30, April 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The US Federal Reserve monetary policy meeting results were the main event of the yesterday. As the US unemployment rate is declining, it does not disturb the Fed – we should pay attention to inflation. The inflation expectations are still quite low.

The upward trend is reaching the resistance level of 1.1150.

The price is finding the first support at 1.1050, the next one is 1.0925. The price is finding the first resistance at 1.1150, the next one is at 1.1260.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

We suppose the pair will go to 1.1050 first. Having overcome the first target the price might go downwards to 1.0925.