Overview of the euro / dollar on 20/04/2016
Since investors using the euro as a funding currency, fueled by low interest rates, the Central Bank raised the EU, it will only benefit from the panic prevailing in the market. Demand for the euro is rising, so we can say that the dynamics of the EU currency is now more dependent on market sentiment than on the data of European economic indicators and comments of senior officials in Europe.
The euro exchange rate against the dollar bullish momentum developed, contributed to the breakdown of the level 1.1350.
In the area of 1.1350 is the first support below 1.1260. In the area of 1.1450 is the first resistance, above - 1.1550.
A sell signal is weak and confirmed. The price is below the Ichimoku cloud and Chinkou-Span is above the price level. Tenkan-sen shows the upward movement and the Kijun-sen - the horizontal, and form a "Golden Cross".The urgency of the downward movement will continue as long as the price is below the Ichimoku cloud.
The MACD histogram is in the positive zone. The price is rising.
If the decline resumes, the first target will be the level 1.1350, then 1.1260.
Source Fort Financial Services