30, July 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

Preliminary estimates of the business activity index in the U.S. manufacturing sector grew by 53.2 points and the index of business activity in Richmond fell to a negative value of minus eleven points. Up to 343,000 increased the number of Initial Jobless Claims, but the consumer confidence index, which is calculated by Reuters and the University of Michigan rose to 85.1 points, which is a six-year high.

The price is in an upward trend. The current buy signal is strong and confirmed as Chinkou span is below the price and the price is above the Ichimoku cloud. The upward movement is targeted to the resistance level 1.3300.

The upward movement is continued as long as the price is above the Kijun-Sen.

Chinkou Span is below the price that is a confirmation of the current buy signal. The Kijun-Sen and Tenkan-Sen are directed upwards. The Cloud is growing.

Bollinger Bands indicator shows an upward movement. The bands are narrowed.
MACD is in a positive area, indicating the current upward movement.

Trading Recommendations

Short-term prospects for the pair look positive, and the growth is expected to continue to the resistance 1.3415. Its confidence will open the way to overcome the further growth to a maximum of 1.3710.

At the same time, in the case of a trend reversal on the way to 1.3415 is likely to be followed by moving down to support or to 1.3070-1.3135 1.3000.