19, December 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The data published yesterday, showed a good dynamics and gave a support to a single currency. The main driver for today's session will be the results of yesterday's Federal Reserve decision on monetary policy.

The pair fell yesterday. We got sell signal, it is confirmed and weak. The Chinkou Span is above the prices, the price itself is trading in the cloud. Trend lines are directed downwards.

Indicator Bollinger shows a downward movement, the bands are directed downward and expanding.

MACD is in the negative zone. The histogram merged with its signal line.

Trading recommendations

The price came out of the side corridor and rushed down yesterday. The pair broke 1.37, reached 1.3665. We expect a consolidation before the pair to continue its falling. The consolidation range is 1.3700-1.3665.

The price may fall to 1.3620.