EUR/USD (a 4-hour chart)
Ichimoku Analysis shows that the price quickly began an upward movement, but spent all of Friday in the corrective movement. The current buy signal is confirmed and weak, as Chinkou span entrenched above the price, and the price just left the Ichimoku cloud. The first goal of an upward movement is the resistance level of 1.3400. If the price consolidates above the first target, the upward movement may continue to the resistance level 1.3478. The upward movement is kept as long as the price is above the Kijun-Sen if the price consolidates below the critical line, the price may try to resume a downward movement to the first support level 1.3228 and a buy signal will weaken.
The pair is in a medium upward trend. Tenkan-Sen and Kijun-sen are horizontal. Tenkan-sen is below the price. The cloud is neutral.
To continue the growth it is very important to overcome the range 1.3351 - 1.3373. The victory will make buyers think about going to 1, 3500, and even 1.4000. Strong resistances in addition to the specified range are located in the area of 1.3418 - 1.3425 and 1.3560 - 1.3575.
Bollinger bands are widen and directed slightly downward.
The MACD indicator signaled a decline in the positive range of values. A bullish divergence is formed between the indicator and the price chart - a sign of changing buying to sales.
There is a high probability of falling with working out the first target in the short term – the support level is 1.3115. In the medium-term the target level is 1.2810.
Alternatively, there might be the breakdown of the resistance level 1.3345; that will become a good signal to update weekly local maximum 1.3400. In this case, the price will tend to go up to the level 1.3645.