EUR/USD (a 4-hour chart)
The Eurozone business activity data supported the euro and it ended last week at the opening prices against the dollar. The October indicator came out to be better despite the expected further index decline. The data in France were weak and caused some pressure on the euro, but the messages in the Germany and the euro zone indicated improvement that stopped the euro decline and provoked a slight increase on the side with consolidation.
The sellers updated the previous week laws last week. But after that a consolidation was formed around the level of 1.2670.
The price is finding the first support at 1.2600, the next one is at 1.2500. The price is finding the first resistance at 1.2670, the next one is at 1.2730.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is below the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
The potential growth targets are the resistance levels: 1.2730, 1.2790.