22, December 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The traders will focus their attention on the bond market dynamics amid the important macroeconomic statistics absence. The Germany and the US bond yields expansion points out to the single European currency bearish trend continuation.

The sellers were able to break through and fixed below the round support level of 1.2300. The level breakthrough was amid the low volume that points towards the easing downward trend.

The price is finding the support at 1.2200. The price is finding the first resistance at 1.2300, the next one is at 1.2400.

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 MACD indicator is in a negative territory. The price is decreasing.

Trading recommendations

We may expect the fall towards 1.2200 further on we expect a growth to 1.2300.