26, September 2013

EUR/USD (a 4-hour chart)

 EUR/USD (a 4-hour chart)

General Overview

EUR/USD looks very expensive on the short term, said Sebastien Ghali, a currency strategist at Societe Generale: the Fed, the ECB and the speakers continued renovation work after the fiasco of the restrictions, trying to put pressure on the excessive growth of the euro. Draghi LTRO uses as opposed to the Fed. Benefits of EUR / USD disappear, but very carefully in accordance with the 2-year swaps and there is potential for further decline. Ifo grew, but less than expected, and the data in the U.S. showed some tendency to increase. The fact that the swap is actually ridiculously low shows that most of the FX market is being re-forecasted. "

Kijun-Sen and Tenkan-sen lines maintain the upward crossing of the "golden cross". The line Kijun-Sen began to unfold horizontally while the Tenkan-sen line is rising. The market is experiencing "bullish parade of lines". The Cloud is growing.

Bollinger bands are directed up, its bands are narrowing.
The MACD is in a positive area going down.

Trading recommendations

If the price breaks the rising trend line 1.3465, bearish correction will be deeper, but this will be reduced to a price support level 1.3440. A breakthrough or rebound from the 1.3440 is possible.