25, April 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

April 25, the euro continues a downward trend, reaching a new local minimum.
External news, as before, does not assist to the growth of risk assets, such as the euro. In addition, the players seem to have seriously decided to wait until the May meeting of the European Central Bank, According to many analysts, the euro will remain under pressure before it.

The price is below the Tenkan-Sen and Kijun-Sen. The Tenkan-Sen is the Kijun-Sen. The Tenkan-Sen is directed downward, the Kijun-Sen is directed sideways. The Cloud is directed downward.

Bollinger lines are narrowing and going down.
MACD histogram entered the negative zone that may indicate a further decline.

Trading recommendations

The sell signal is confirmed but weak, as the Chinkou Span is below the price, and the price has just got out of the Ichimoku cloud. The 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.