EUR/USD (a 4-hour chart)
We should pay attention to the IFO institute publication. Last week the ZEW and Markit Economics reports show the negative expectations for the German economy and in this regard we received the data output worse than the forecasted medians that will put pressure on the euro.
The United States published the inflation report that showed the CPI decrease to 0.1% from 0.2%.
The pair rebounded from the level of 1.1150 downwards and broke through the support level of 1.1050.
The price is finding the first support at 1.0925, the next one is 1.0790. The price is finding the first resistance at 1.1050, the next one is at 1.1150.
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 shows a horizontal movement and the Kijun-sen shows a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is falling.
The downward movement will be continued. The pair may go to 1.0925 soon and then to the level of 1.0790.