EUR/USD (a 4-hour chart)
The pair is unstable, the reason - the rumors that Germany's rating can be doungraded. These rumors are based on the DAX index decreased by 1.63%. The pair has risen to the level 1.3190 this week and strengthened there.
Later, the pair declined sharply after Bundesbank President Jens Weidmann's statement about possible lowering of the interest rates in the euro area in order to stimulate the economy. The pair turned down sharply to the level 1.3000 and then moved into a phase of consolidation. We are waiting for the results of the G20 meeting.
The signal to buy is still in force. The price is below the Tenkan-Sen and Kijun-Sen, the pair is being traded in the Cloud. Tenkan-Sen is below Kijun-Sen. The Tenkan-Sen and Kijun-Sen are directed aside. The Cloud is neutral.
Bollinger Bands are expanding. The middle line indicates a decline.
MACD is going down and shows a sell signal.
After a significant decline, a pair going through a correction and slightly restored its positions. The pair is trading at 1.3040 - 1.3060. After the Bundesbank's speech investors preferred to invest in more stable assets.
It is likely that the pair will go down in the near future. In the future, the pair can go up to 1.3100 and then continue to decline to 1.2900.
Place a stop loss above the Kijun-Sen in the case of a southern movement and below the Kijun-Sen, in the case of a north one, respectively. As the price moves we move and stop level after it.
When you open positions consider the fundamental analysis and the time economical news is released.