24, September 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The European Central Bank, which also faced with the global financial crisis since 2008, has introduced a lot of measures to support the default region countries. Initially, it introduced a system of bank credit, which provided lump sums to national central banks. After that it launched the program of bond purchases. As of January 2013, it spent nearly $ 432 billion, as a part of the monetary measures. In September 2012, the president of the ECB, Mario Draghi, presented a program of unlimited asset purchases, making a radical change to the program of monetary easing. The measures are imposed so far.

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, its bands are narrowing.
The MACD is in a positive area going down.

Trading recommendations

As a trading strategy, we would recommend buying at the current price. During the trading day the price is likely to grow to the resistance 1.3599, we expect the growth to 1.3712. in the long term.