20, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Thanks to announcement of FOMC, EUR/USD broke through 1.35, the strong level since February. No important economic data have been received from the euro area, the Italian Senate formally rejected the recommendation of the senior member of the PLD confirm Berlusconi as a senator. Former Italian prime minister vowed to stay in politics, even if he is expelled from the Senate, but it was interesting in his speech that he refrained from threats that his party is out of the coalition government.

It is likely that the pair will go higher, as investors continue to digest announcements of FOMC.

According to the Ichimoku analysis the pair is located in an uptrend. The pair keeps growing. The EUR/USD broke the Ichimoku cloud up. Tenkan -Sen and Kijun -Sen are directed upwards. Tenkan -sen is below the price. The cloud is directed up.

Bollinger bands are directed up broadening.
The MACD histogram has left a negative zone and growing.

Trading recommendations

Breakthrough and consolidation higher the current level could affect the renewal of the maximum 1.3710 from 02.01.2013 or, at least, may retest the 1.3710 level.