Fort Financial Services - Analytics

    Fort Financial Services

    547.00 6.50/10
    100% of positive reviews

    EUR/USD (a 4-hour chart)

    EUR/USD (a 4-hour chart)

    General overview

    The US, Germany and the UK negative bond yields began to decline which traditionally causes demand for the euro. The leading stock markets showed weakness at the end of the last week which also supports the demand for the euro as a funding currency.

    The downward correction stopped near the level of 1.1150.

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

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

    Trading recommendations

    The downward movement potential targets are 1.1150 and 1.1050. If the price grows it will get to 1.1410.

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