29, April 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

Unemployment Change in Germany showed -16K, the previous value was -3K. Experts had expected a growth by 4K. Unemployment rate remained at the same level of 6,2%, which corresponded to the forecasts.

The first support lies at 1.1260 and then at 1.1150. The first resistance stands at 1.1350, the next one is at 1.1450.

The price is in the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement forming a “Golden Cross”.

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

Trading recommendations

The downward movement will be continued. The pair may go to 1.1260 soon. The next target will be 1.1150.