German producer price index increased in April more than expected. In annual terms, given the seasonal nature of the change, the rate was 0.1%, after 0.0% in March. Expected 0.2% rise in the April index.
1.1250 mark has limited growth attempts. After consolidation, having a downward slope, quotes lost a mark 1.1200. The tool has updated the minimum value at 1.1185, from where it later recovered to 1.1200.
In the area of 1.1200 is the first support below 1.1130. In the area of 1.1250 is the first resistance, above - 1.1300.
A sell signal is strong and confirmed. The price is below the Ichimoku cloud and below the line Chinkou-Span.Tenkan-sen and Kijun-sen demonstrate horizontal movement. The urgency of the downward movement will continue as long as the price is below the Ichimoku cloud.
Histogram MACD is in the negative zone. The price is consolidating.
Trading recommendations EUR / USD
If sales continue, quotes reached a low of 1.1130, then 1.1070. On the way up the first hurdle is located at the level of 1.1250.
Source Fort Financial Services