23, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The U.S. President Barack Obama said that the 16-day shutdown of the federal government caused quite an unnecessary harm" to the economy. The Congress temporarily raised the debt ceiling at the last moment by focusing on the next financial barrier in December. 17 euro-zone countries, including Greece, look better in comparison to the USA.

The bulls continue to dominate against the bears. The pair is in a bullish trend. Chinkou Span is above the price, and the price is fixed inside the Ichimoku cloud, the buy signal is strong and confirmed.

The upward movement will remain until the Kijun-sen is located below the price.

Trading recommendations

There has been a sluggish rollback. The first target 1.3630 provided a good counter-force, having beaten the price back to 1.3770 resistance. The next target is 1.3860. Still the pair needs consolidating at the tested 1.3770 to continue the growth.