EUR/USD (a 4-hour chart)
The euro reached an 8-week low versus the dollar, but then strengthened before the ZEW Economic Sentiment publication. The inflation in Germany was slightly better than expected.
The pair is trading below 1.3550-1.3650 level which is acting as resistance and therefore the risks are shifted downwards to the level 1.3400. After overcoming this level the pair can fall to the support level 1.3295 or 1.3100.
We have a southern movement. The sell signal is confirmed and strong. The price is being traded below the cloud and above the Chinkou Span.
The downward movement will be until the Kijun-Sen is above the price. Kijun-Sen and Tenkan Sen are horizontal.
Bollinger Bands are directed downwards.
MACD is in a negative area, the histogram is growing.
The corrective recovery towards the level 1.3570 was accompanied by small volume amounts. Touching the mark 1.3570 caused a rebound down; its immediate target is the support level 1.3525.
The downward trend continuation signal would be a price breaking below 1.3525. This breakthrough opens the way to 1.3500 support line.