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

    By the end of the trades the euro sharply strengthened. Earlier the euro remained under pressure before Federal Reserve’s meeting results publication. The regulator postponed the second rate hike. The government bonds yields differential (the United States and Germany) decreased, showing a lack of interest to US assets. The USA retail sales pointed to the “bullish” sentiment growth. The volume of trade decreased by 0.1%, in line with the consensus forecast.

    The first support lies at 1.1150 and then at 1.1050. The first resistance stands at 1.1260, the next one is at 1.1350.

    There is a confirmed and a strong buy signal. The price is above the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show an upward movement. The upward movement will be until the price is above the Cloud.

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

    Trading recommendations

    The buyers need to break above 1.1260 for a steady growth. The way to the mark 1.350 will be opened after this breakthrough.

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