23, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

EUR / USD grew on a very mild statement from Bernanke on Wednesday having climbed to fresh multi-month highs above the 1.3500 figure.

If the growing is to be continued, an attempt to test the highs of the beginning of the year at 1.3711 should not be ruled out.

The Swiss bank UBS confirms a bullish forecast for the pair. Strategists G.Berry and Syed Mohi-uddin said that there was no serious resistance to 1.3711. The support is at 1.3375.

According to the Ichimoku analysis the pair is located in an uptrend. The pair keeps growing. The EUR/USD broke the Ichimoku cloud up. Tenkan -Sen and Kijun -Sen are directed upwards. Tenkan -sen is below the price. The cloud is directed up.

Bollinger bands are directed up.
The MACD histogram has left a negative zone.

Trading recommendations

We advise to consider a short-term pullback toward the sloping support line 1.3487 or an intermediate support level 1.3502.