19, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The pair showed a gain four weeks in a roll. Although the pair suffered from a high volatility, it closed in a positive area.

Overall, the previous week was constructive for the pair, it was able to get one step up and consolidated above 1.3250, which, for the moment, gives a decent support to the pair.

The price is above the Chinkou-span, we have a strong and confirmed buy signal. EUR/USD is above the Ichimoku cloud. The pair is being traded above the Kijun-Sen and Tenkan-sen, the Ichimoku cloud itself is directed upwards.

Tenkan-Sen and Kijun-Sen follow the price up both lines are horizontal.

Bollinger bands are narrowing, indicating a low market activity.
MACD is still in a positive zone, the histogram is going down.

Trading Recommendations

Euro grew because of the Germany statistics strong data. The currency could reach the level which it had reached in February 2013.

Euro is expensive, but the economy of Europe is now at a stage of growth, and this may stimulate further growth. Another key level is 1.35.