23, May 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

Producer price index – PPI in Germany rose less than expected last month.( 0.1% m/m vs. previous 0.0%).

The first support lies at 1.1200 and then at 1.1130. The first resistance stands at 1.1250, the next one is at 1.1300.

There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

After the support level of 1.1200 breakthrough down the way to the support 1.1070 will be opened.