22, December 2015

EUR/USD (a 4-hour chart)

EUR/USD (4-х часовой график)

General overview

The November Germany producer price index showed the biggest annual fall in nearly six years, mainly due to lower energy prices. According to the Federal Statistics Office Destatis, Germany's producer price index in November fell 0.2% m/m and 2.5% y/y. The euro area payments balance release with the surplus amounted to 20.4 billion euros compared to the previous value of 29.4 billion remained unnoticed. Meanwhile, the pair EUR/USD mainly focused on the stock market’s mood.

The price is finding the first support at 1.0800, the next one is 1.0730. The price is finding the first resistance at 1.0925, the next one is at 1.1050.

The price is in the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD indicator is in a neutral territory. The price is correcting.

Trading recommendations

The pair can grow to the resistance level of 1.1050. After breaking 1.1050 the buyers may go to 1.1150.