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    EUR/USD (a 4-hour chart)

    EUR/USD (a 4-hour chart)

    General overview

    The secondary USA releases had a minor influence on the quotations dynamics. The economic optimism index showed a growth, but fell short of the expected value, having amounted 47.3 vs. expected – 47.6. Meanwhile, the business confidence indicator came in at the level of 95.2 against the expectations at 95.4. The traders' attention was drawn to the Eurozone industrial production report which is expected to decline in monthly terms. The data came in worse then forecasted median.

    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.

    The price is in the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement forming a “Dead Cross”.

    The MACD indicator is in a neutral territory. The price is growing.

    Trading recommendations

    The downward movement will be continued. The pair may go to 1.0800 and 1.0730 soon.

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