29, October 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

After the failure of the American industry in April it is gaining momentum, which could support the U.S. currency in the short term. It is expected that this index will keep growing, and if the predictions are correct it will be positive for the dollar. Quotes reduction of the pair can reach 1.3745.

The bulls continue to dominate against the bears. The pair is in a bullish trend. Chinkou Span is above the price, and the price is fixed above the Ichimoku cloud, the buy signal is strong and confirmed. Tenkan-Sen and Kijun-sen are directed upwards. The Cloud is growing.

The upward movement will remain until the Kijun-sen is located below the price.

Bollinger Bands indicator shows an upward movement. The bands are narrowing, being directed upwards.
The MACD histogram is directed down.

Trading recommendations

Trading near the sloping resistance line 1.3800 became very "sluggish" in its nature, which is, first of all, indicated by the daily closing prices with little growth potential.

Trading volumes look down in the medium term, but at this moment there is no formation of such reversal patterns.