26, August 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

At the end of the week the quotes of the pair slightly decreased, approaching to the bottom line of the indicator "Bollinger Bands", in response to the statistics from the U.S. On Thursday it was published the rate on mortgage loans provided for 30 years. We can see that the mortgage in the U.S. has become more expensive for its citizens by 0.12% per annum.

Despite this, sales in the secondary market rose to 5.39 million, exceeding forecasts of experts. Perhaps the correction is over and we will see further price’s growth.

According to the Ichimoku indicator, the pair is a medium upward trend now. Tenkan-Sen is directed up and Kijun-sen is horizontal. Tenkan-sen is below the price. The Cloud is growing.

Bollinger bands are widen and directed up broadening.
The MACD histogram is located in the positive area and is growing.

Trading recommendations

A break above 1.3370 is a positive sign for the Bulls, who now take aim again to offers around 1.3440/50. The pair has the potential to move to the thirty-fifth figure, drawing attention to the ability of EUR to remain above the support at 1.3320/00.