Fort Financial Services - Analytics

Fort Financial Services

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EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

Traders received the Germany retail sales and factory orders data. The euro zone is to publish the labor market (the unemployment rate is 10,5% against the forecasted 10,7%), the consumer confidence (at the forecasted median -0,6), the retail sales (-0,3% against the forecasted median 0,2%), the economic sentiment (-2,0 against the forecasted median -3,0) reports.

The first support lies at 1.0800 and then at 1.0730. The first resistance stands at 1.0925, the next one is at 1.1050.

There is a confirmed and a weak sell signal. The price is below the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The downward movement will be until the price is below the Cloud.

The MACD indicator is in a negative territory. The price is correcting.

Trading recommendations

The pair can grow to the resistance level of 1.0925. After breaking 1.0925 the buyers may go to 1.1050.



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