EUR/USD (a 4-hour chart)
The tech sector became the growth leader in the leading European stock markets which indicates the "risk appetite" growth among investors. At such times, we can see the carry trade transactions increase at the expense of funding currencies which include the euro. In addition, the German government bond yields are decreasing relative to the US and the UK counterparts that also reduce investments’ attractiveness into the European assets.
The pair euro/dollar took a northern direction. After testing the support level of 1.1150, bulls sent the price up. However, they failed to break the resistance of 1.1260, and the price was fixed under this mark.
The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1325.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a neutral territory. The price is correcting.
The downward movement will be continued. The pair may go to 1.1150 soon. After that mark the pair may go to 1.1050.