26, June 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Analysis of the Forex market for June 26 shows that the price is being corrected with the target to a pivot-level 1.3150. The current sell signal is strong and confirmed as Chinkou span entrenched below the price and the price is below the Ichimoku cloud. The first target of the downward movement is the first support level 1.3090.

If the price breaks this target the downward movement may proceed to the support level 1.3000. The downward movement is maintained as long as the price is below the Kijun-Sen.

Chinkou Span is below the price that is a confirmation of the current sell signal.

Bollinger Bands show a continuation of the downward movement.
MACD is turned up, indicating the current correction movement.

Trading Recommendations

Sales off about 1.3150 with a stop at 1.3185 and the expectation of testing Monday's low near 1.3060 look attractive now. After that, the price will be targeted to the area 1.2950.