EUR/USD (a 4-hour chart)
The US dollar strengthened in the first half of the day, but decreased during the American session. The Wall Street Journal reported that according to the results of the the Fed's two-day session, it would likely reduce the amount of monthly purchases of bonds by $10 billion to $65 billion. The International monetary Fund (IMF) raised its forecast on the US GDP growth in 2014 to 2.8% from 2.6%. The IMF expects that the Fed would start raising rates in 2015.
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 consolidation phase is continuing. The risks of further decline remain despite the attempts of the growth. The bearish movement can be weakened only if the pair grows above 1.3620.