24, June 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The final decision on "Greek debt" has not been accepted, however, everybody hopes that a positive decision will be made in the second half of the week as Athens has proposed a new plan to reduce costs.

Markit Economics published the business activity indices in the France and Germany manufacturing sectors.

Buyers have not been able to break through and stay above the strong resistance level of 1.1450. The approach to the resistance level of 1.1450 was followed by a rebound and a pulse break of the support level 1.1260.

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

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

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

Trading recommendations

The potential growth targets are the resistance levels: 1.1260, 1.1450.