29, March 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The market showed a low volatility amid the Easter Holidays yesterday. Although market received some reports still traders’ did not have a desire to trade. For example, the US currency symbolically grew by a few points. The EUR/USD remained in a range as European markets were closed. However by the end of the trades the pair euro/dollar corrected upwards.

The first support lies at 1.1150 and then at 1.1050. The first resistance stands at 1.1260, the next one is at 1.1350.

The price is in the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a downward movement.

The MACD indicator is in a negative territory. The price is correcting.

Trading recommendations

The potential decrease target is the support level of 1.1150. The buyers need to break above 1.1260 for a steady growth.