19, July 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The price is in an upward trend. The current buy signal is strong and confirmed as Chinkou span is below the price and the price is above the Ichimoku cloud.

The price stopped growing and returned onto 1.3080. The upward movement is continued as long as the price is above the Kijun-Sen.

Chinkou Span is below the price that is a confirmation of the current buy signal. The Kijun-Sen and Tenkan-Sen are directed upwards. The Cloud is growing.

Bollinger Bands indicator shows an upward movement.
MACD is in a positive area, indicating the current upward movement.

Trading Recommendations

The pair could not test the resistance 1.3200 and it fell again to the support area 1.3030-1.3080. In this case the prospective of the pair may be determined by its ability to overcome the nearest key levels.

In case of falling below support and follow-up 1.3030-1.3080 and than below 1.3000, the downtrend for the strong support in the area of 1.2745 will be confirmed

At the same time, with the resumption of growth and confidence in a break above 1.3200 resistances will be to test 1.3415.