EUR/USD (a 4-hour chart)
The single European currency remained under a strong pressure. The weak German economy data as well as some European regulator representatives reports, regarding the need to adopt the measures that will be aimed at the deflation risks limiting, triggered the euro to selling. Especially the single European currency was impacted by the J. Weidmann’s statement, concerning that the negative interest rates will be an adequate measure. These messages may indicate that Germany is unhappy with the high euro.
The support is 1.3710. The resistance is 1.3760, the next one is 1.3800.
There is a strong southern movement. The price is below the Cloud and above the Chinkou Span. The downward movement will be until the Kijun-Sen is below the price. The Tenkan-Sen is directed down and the Kijun-Sen is horizontal.
MACD histogram is still in negative area showing a sell signal.
The rising trendline 1.3785 breakthrough suggests that the sellers power gradually increases. Thanks to a 1.3760 breakthrough down before the sellers will pave the way to a strong support level 1.3710 - 1.3690.