EUR/USD (a 4-hour chart)
The fact that the ECB left the interest rates unchanged had an impact on the euro. The euro fell in response to this news. The 10-year German government bonds yield decreased in the Bonds Market. Still the pair EUR/USD could slightly strengthen in the beginning of the week. The Fed meeting will be the focus of our attention this week.
The first support lies at 1.1260 and then at 1.1150. The first resistance stands at 1.1350, the next one is at 1.1450.
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 forming a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is correcting.
The downward bounce potential targets are 1.1260 and 1.1150.