20, April 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The euro grew amid the risk aversion. Now the euro dynamics depends rather on the market sentiment than on European economic statistics and senior European officials’ comments.

The first support lies at 1.1350 and then at 1.1260. The first resistance stands at 1.1450, the next one is at 1.1550.

There is a confirmed and a weak sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

The potential decrease targets are two levels of support: 1.1350 and 1.1260.