21, September 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The US monetary regulator was afraid of the weak exports and expressed its concern about the economic growth possible restriction amid the UK recent events. The FOMC raised its employment estimates, compared with the June forecast. At the same time the current year inflation forecast was lowered as well as the GDP estimates for 2016 and 2017.

The price could not continue the downward movement and has resumed the upward trend. However the resistance level of 1.1410 breakthrough was short-term. The pair returned in the level of 1.1325 area by the end of the trades.

The price is finding the first support at 1.1260, the next one is 1.1150. The price is finding the first resistance at 1.1325, the next one is at 1.1410.

There is a confirmed and a weak buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The pair can grow to the resistance level of 1.1410. After breaking 1.1410 the buyers may go to 1.1530.