EUR/USD (a 4-hour chart)
The Bonds market showed a growing optimism: the 10-years German government bonds yield grew which increased the attractiveness of the European assets. Economic Sentiment in May (the ZEW Institute) was the focus of our attention. The index sharply fell which weakened the euro (6.4 vs. expectations 12.0).
The first support lies at 1.1130 and then at 1.1070. The first resistance stands at 1.1200, the next one is at 1.1250.
There is a confirmed and a strong sell signal. The price is under the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
The strong support level of 1.1200 break was followed by the pair decrease. If it breaks 1.1130 down it will open the way to the level of 1.1070.