EUR/USD (a 4-hour chart)
The traders’ attention will be focused on the IFO institute publication. Taking into consideration the fact that the US and Germany negative bond yields are above 178 b. p – it will be difficult for bulls to break through the mark of 1.0925. We received the durable goods orders that are within the forecasted medians.
Traders are waiting for the US Fed decision on April 29, concerning the monetary policy.
Buyers have been able to break through above 1.0790 for the second time. The breakthrough was amid the increased volume.
The price is finding the first support at 1.0790, the next one is 1.0670. The price is finding the first resistance at 1.0925, the next one is at 1.1050.
There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a positive territory. The price is growing.
The buyers need to break above 1.0925 for a steady growth. The way to the mark 1.1050 will be opened after this breakthrough.