Fort Financial Services - Analytics

    Fort Financial Services

    562.00 7.00/10
    100% of positive reviews

    EUR/USD (a 4-hour chart)

    EUR/USD (a 4-hour chart)

    General overview

    The market is still under the ECB's statements impression to continue easing policy at the same time the Fed is going to start the policy tightening. There was nothing interesting in the ECB President M. Draghi's performance yesterday. He said that the inflation must be neither too high nor too low; the further stimulation measures should be reviewed at the December meeting; he was also concerned about the emerging markets economic growth prospects.

    The first support is at the level of 1.0925, the next one is at 1.0870. The resistance levels are 1.1050 and 1.1150.

    We have a strong and confirmed sell signal. The price is below the Ichimoku Cloud. The pair is under the Chinkou Span. The Tenkan-sen is crossing Kijun-sen upwards; two lines are forming the “Dead Cross”. The pair will show the southern movement until it is below the Cloud.

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

    Trading recommendations

    The resistance of 1.1050 limits the pair’s growth. We expect the pair to keep falling. The decrease targets are 1.0925 and 1.0870.

    To leave a comment you must or Join us

    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree