29, January 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The US Federal Reserve left the rate unchanged. The regulator noted the short-term inflation expectations decreased amid the low energy prices. According to the Fed the rate may be increased in March, still its growth depends on the incoming macroeconomic statistics.

The first support lies at 1.0925 and then at 1.0800. The first resistance stands at 1.1050, the next one is at 1.1150.

There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement forming 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.

Trading recommendations

We believe the growth will be continued now. The targets are the levels of 1.1050 and 1.1150.