Forecast EUR USD 04/05/2016
Of the euro area during Tuesday's important economic data comes out.Presented number slabovolatilnyh dannyhv among which was the April producer price index in the European region (m / m), which showed growth.According to the release, the value was 0.3%, the decline of 0.7% was recorded in March. According to the forecasts expected the April index to see a rise of 0.1%. Supporting the European currency and the fact was that global markets have come under pressure due to the sudden devaluation of the Chinese currency in early May. By the end of trading Eurocurrency weakened.
Quotes suspended a strong upward movement. It pierced the resistance 1.1550 short term, after which the price is back below this mark.
In the area of 1.1450 is the first support below 1.1350. In the area of 1.1550 is the first resistance, above - 1.1650.
A buy signal is strong and confirmed. Price is above the Ichimoku cloud and Chinkou-Span is below the price level. Tenkan-sen shows the upward movement and the horizontal Kijun-sen. The urgency of the upward movement will continue as long as the price is above the Ichimoku cloud.
The MACD histogram is in the positive zone. The price is adjusted.
Longovye deal with the first target 1.1550 for EUR relevant. Overcoming this mark will give traders the opportunity to continue the momentum from the north Target 1.1650.
Source Fort Financial Services