EUR/USD (a 4-hour chart)
On Monday the pair continued to move sideways in a range 1.3080-1.3020, due to the lack of major news in Europe or the U.S., even favorable news from the Bundesbank that interest rates will not be reduced in the nearest future, did not help the pair to become stronger.
On Tuesday, the pair fell from 1.3040 to 1.2980. At the end of the trading session, the pair came out of the Cloud.
The price is below the Tenkan-Sen and Kijun-Sen. The Tenkan-Sen is the Kijun-Sen. The Tenkan-Sen and Kijun-Sen are directed sideways. The Cloud is directed downward.
Bollinger lines are extended and pointing down.
MACD histogram entered the negative zone and is below the signal line, which may indicate a further decline.
The sell signal is confirmed but weak, as the Chinkou Span is below the price, and the price is just got out of the Ichimoku cloud. Indicators and graphical analysis suggest the decline. The pair will be in the short term either in a flat or will continue to move downward.
It is recommended to go short. The first target of the downward movement is the level 1.2940.