20, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The EUR/USD took fourth in the last five days trying to overcome resistance at 1.34, but failed to get a foothold at this level.

The price is below the Chinkou-span, we have a weak and confirmed buy signal. EUR/USD is in the Ichimoku cloud. The pair is being traded below the Kijun-Sen and Tenkan-sen, the Ichimoku cloud is directed upwards.

Tenkan-Sen and Kijun-Sen follow the price up both lines are directed down.

Bollinger bands are narrowing, indicating a low market activity.
The MACD is slowing falling, gradually approaching to the signal line.

Trading Recommendations

The pair can go down to the 1.32 support line, then to the next target 1.3150. Otherwise, we must wait for its attempts to pass Tuesday's high at 1.3414 to 1.3433/1.3450 and the possibility of further growth to around 1.35.