25, August 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The single European currency could stop its decline against the dollar for some time and has recorded a slight increase. The euro fell again after this short-term growth that occurred due to the strong technical levels which dropped a pair, because the euro area economy data did not have too much optimism.

The price is finding the support at 1.3230. The price is finding the first resistance at 1.3290, the next one is at 1.3360.

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 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 decreasing.

Trading recommendations

The false retest is more likely to lead to the strong price support level 1.3170.