Overview:
The euro has resumed upside movement, the correction was not deep and the sell signal was not supported by the respective level. The formed buy 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 1.3853 – the second resistance level. If this level is passed the next target will be the third resistance level at 1.3958. The upside movement continues while the price is above the Kijun-Sen(1.3720), 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 and directed up. The MACD is ascending, which indicates current upside movement.
Trading recommendations:
Currently it is recommended to trade up with the target to 1.3853, and further to 1.3958. Stop Loss should be placed below 1.3720. If the MACD reverses down, long positions should be cut manually.
http://instaforex.com/forex_analysis/22457/?x=OUE
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