20, May 2016

EUR/USD (a 4-hour chart)

 EUR/USD (a 4-hour chart)

General overview

In the Bonds market the 10-year German government bonds yield decreased which reduced the attractiveness of the European assets. The ECB published its protocols. The published ECB minutes could not support the euro.

The first support lies at 1.1150 and then at 1.1040. The first resistance stands at 1.1260, the next one is at 1.1350.

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

The MACD indicator is in a negative territory. The price is consolidating.

Trading recommendations

After the support level of 1.1150 breakthrough down the way to the support 1.1040 will be opened.