20, April 2015

EUR/USD (a 4-hour chart)

 EUR/USD (a 4-hour chart)

General overview

The traders are not ready to break through the psychological level of 100.00 within the dollar index basket which does not allow the US dollar to strengthen its positions against the euro.

The German 10-year bond yields set a fresh historic low and fell below the mark of 0.10%. This factor has led to the Germany/USA and the Germany/UK negative bond yields significant increase.

The euro has broken through the strong resistance level of 1.0670 upwards. This level breakthrough was on the increased volumes - buyers are gaining their strength. The resistance level of 1.0790 was tested.

The price is finding the first support at 1.0670, the next one is 1.0550. The price is finding the first resistance at 1.0790, the next one is at 1.0925.

There is a non-confirmed and a weak buy signal. The price is on the Cloud and it is above the Chinkou Span. The Tenkan-sen shows a horizontal movement and the Kijun-sen shows an upward movement and form a “Golden Cross”. The upward movement will be until the price is under the Cloud.

The MACD indicator is in a positive territory. The price is growing.

Trading recommendations

We may expect the fall towards 1.0670 further on we expect a growth to 1.0790, 1.0925.