EUR/USD (a 4-hour chart)
The euro zone and the United States did not publish any important macroeconomic releases and in this regard the debt dynamics and the commodity market were in the center of our attention. It should be noted that the German 10-year bond yields continue to decline relative to their US and the UK counterparts that is a "bearish" factor for the single European currency. However, the euro bulls were able to seize the initiative.
Now there is a short-term consolidation above the support level of 1.0790. Then the pair rebounded upwards and the resistance level of 1.1150 was broken through.
The price is finding the first support at 1.0925, the next one is 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is correcting
The potential decrease target is the support level of 1.0790.