Overview:
The euro is still in the upside movement, the target level has been already passed, but there are no signs of completing movement. The formed signal is strong and confirmed since the Chinkou Span fixated above the price graph and the price is above the Ishimoku cloud. Thus, at the moment the first target for the upside movement is 1.3748 – the first resistance level. If this level is passed the next target will be the second resistance level at 1.3877. The upside movement continues while the price is above the Kijun-Sen(1.3580), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span fixed above the price graph, which confirms the current buy signal and indicates bullish sentiment. The Bollinger bands show the continuing upside movement, the lines are diverging again and directed up. The MACD is descending, however, we do not see the price moving down, which means that the indicator is resetting accumulated parameters, therefore it is might not be taken into consideration at the moment.
Trading recommendations:
Currently it is recommended to trade up with the target to 1.3748, and further to 1.3877. Stop Loss should be placed below 1.3580.
http://instaforex.com/forex_analysis/22139/?x=OUE
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