29, August 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The concerns about the reduction of asset purchase program by the Fed gave place to new threatenings. There are two new risk factors that are very quickly begin to unwind investors around the world. The first one is a topic about U.S. debt limit which will be relevant in October. The second and most serious is the situation around Syria.

According to the Ichimoku indicator, the pair is a medium upward trend now. Tenkan-Sen is directed up and Kijun-sen is horizontal. Tenkan-sen is below the price. The Cloud is growing.

Bollinger bands are widen and directed up narrowing.
The MACD histogram is located in the positive area near the zero line.

Trading recommendations

The pair EURUSD showed a false breakdown of a symmetric triangle, but thus the price returned back in a triangle and later could punch it up. There was no active growth up as it usually happens in case of breaks after formation of consolidation of the price.