20, February 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Ichimoku Cloud Analysis on EUR/USD shows us that the pair is out of the flat. The whole day yesterday the pair was in the flat and by the evening jumped out of it. It tested the level 1.3384 and stayed at it. During the Asian session the pair started to move towards the Cloud having stopped at 1.3410.

The current sell signal is confirmed but weak though the Kijun-Sen is below the price chart and the price is below the Ichimoku cloud.

The goal of the downward movement is 1.3250 and 1.3327.

The downward movement will be strong as long as the price is below the Kidjun-sen ($%^$%%). If the price consolidates above this critical line we can expect the price to move upwards.

Bollinger Bands are narrowing, that might be a signal for an upward movement.

MACD is down but might go up today.

Trading recommendations

Though a downward is still actual we do not see the confirmed signal that supports it. We can see that the price started to grow but we do not know what it is. It might be a simple correction or the beginning of an upward movement.

We advise you to stay away from any actions. Get the signal fist and only then start trading.

If the price goes down its targets are: 1.3350 and 1.3300.
If the price goes up it shall go up to the Ichimoku cloud.