21, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The dollar fell against the basket major currencies on Thursday as investors shifted attention to the consequences for the economy because of the impasse in U.S. debt and the U.S. government did not work for two weeks.

EUR rose to 1.3666, as the U.S. debt deal does not seem to meet the expectations of investors. The deal was signed by President Obama, according to the deal the debt ceiling was raised.

The pair is likely to trade between the pivot (resistance tested yesterday ) and the resistance of 1.3620 and 1.3730. The pivot is at 1.3623.

The pair is bullish. Chinkou Span is above the price, and the price is fixed inside the Ichimoku cloud, the buy signal is strong and confirmed.

The upward movement will remain until the 1.3585 level which is Kijun-sen is located below the price.

Trading recommendations

The potential target of the growth is again 1.3690. If the price does not break it, the consolidation is expected.
After breaking through the 1.3690 the growth may be continued to: 1.3750, 1.3800.