Overview:
The euro is still in upside movement and observing the buy signal with target level 1.4826, the price reached the target level, but there are no signals for the movement to end. The formed buy signal is strong and confirmed, since the Chinkou Span fixated above the price graph and the price is above the Ichimoku cloud. At the moment the first target level is passed, therefore the current target for the upside movement is 1.4950 – the second resistance level. If this level is passed the next target will be the third resistance level at 1.5251. Upside movement remains while the price is above the Kijun-sen (1.4690), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is 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, therefore it is possible to trade up now; if the MACD reverses down it will denote the beginning of another correction and it will be recommended to cut long positions.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4950 and further to 1.5251. Stop Loss should be placed below 1.4690 and stretch it up as the Kijun-sen advances. If the MACD reverses down it will be recommended to cut long positions.
In addition to technical image, one should take into account the fundamental data and the time of their release.
The chart annotation:
Ichimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with white bars in the indicators window
http://instaforex.com/forex_analysis/27627/?x=OUE
The euro is still in upside movement and observing the buy signal with target level 1.4826, the price reached the target level, but there are no signals for the movement to end. The formed buy signal is strong and confirmed, since the Chinkou Span fixated above the price graph and the price is above the Ichimoku cloud. At the moment the first target level is passed, therefore the current target for the upside movement is 1.4950 – the second resistance level. If this level is passed the next target will be the third resistance level at 1.5251. Upside movement remains while the price is above the Kijun-sen (1.4690), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is 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, therefore it is possible to trade up now; if the MACD reverses down it will denote the beginning of another correction and it will be recommended to cut long positions.
Trading recommendations:
Currently it is recommended to trade up with target at 1.4950 and further to 1.5251. Stop Loss should be placed below 1.4690 and stretch it up as the Kijun-sen advances. If the MACD reverses down it will be recommended to cut long positions.
In addition to technical image, one should take into account the fundamental data and the time of their release.
The chart annotation:
Ichimoku indicator:
Tenkan-sen — red line
Kijun-Sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with white bars in the indicators window
http://instaforex.com/forex_analysis/27627/?x=OUE
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