Fort Financial Services - Analytics

    Fort Financial Services

    545.25 5.75/10
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    Real

    EUR/USD (a 4-hour chart)

    EUR/USD (a 4-hour chart)

    General overview

    In addition to a dollar general direction movement change the Germany inflation report has brought a bit of negative when the consumer prices growth index slowed to 0.2% y/y from 0.3% while traders expected it to accelerate to 0.4%. The euro area inflation report was the key event of Tuesday that came out worse then forecasted median. In addition, Germany has surfaced labor market indicators: -14K and -6K.

    The first support lies at 1.0730 and then at 1.0630. The first resistance stands at 1.0800, the next one is at 1.0925.

    There is a confirmed and a strong sell signal. The price is below the Ichimoku Cloud and it is under the Chinkou Span. The Tenkan-sen showы a downward movement and the Kijun-sen shows 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 decreasing.

    Trading recommendations

    The potential decrease targets are two levels of support: 1.0630, 1.0550.


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