25, July 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)


It seems that investors decided to take time out and stopped the euro active selling. The euro stayed without changes against the dollar and actually concluded the session at the starting positions. The European newsflow bloc wasn’t rich enough to support the euro as it hadn’t received any support.
The trading session was relatively sluggish. The downward trend is still more than relevant.

The price is finding the support at 1.3420. The price is finding the first resistance at 1.3480, the next one is at 1.3520.

There is a confirmed and strong sell signal. The price is under the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show 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 consolidating.

Trading recommendations

The pair is close to the strong resistance 1.3480. If the pair doesn’t bounce from it we expect the fall to 1.3420.