EUR/USD (a 4-hour chart)
For the euro, as well as for most major USD pairs, the last week did not end with the correction increase. The buyers are able to return back to the price for the level of 1.2930, which was break through against the high volume.
The price correction growth was not supported by the trade volumes. Apparently, the level of 1.2930 retest led to the price downward bounce.
The price is finding the first support at 1.2790, the next one is at 1.2730. The price is finding the first resistance at 1.2850, the next one is at 1.2930.
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 and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud. The Cloud is descending.
The MACD indicator is in a negative territory. The price is decreasing.
The downward bounce potential targets are 1.2790 and 1.2730.