Forecast EUR / USD 05.05.2016
As shown by the latest data, in the euro zone retail sales recorded a decline compared to February, after rising 3 consecutive months. March retail sales fell by 0.5%. Revised February's value was 0.3%. It was assumed that in March, a decline of 0.1%. Contrary to expectations fell indicator of business activity in the services sector in the European region for the past quarter.According to the release, the index value was 53.1, from 53.2 earlier. Analysts predicted the preservation of the values for the last quarter at around 53.2.
A new high above 1.1550 resistance stopped the rally. In this area, the tool makes a U-turn and corrected at this level. Then the couple moved into consolidation range.
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 downward movement and 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 consolidating.
Trading recommendations of EUR / USD
for the EU currency buy items remain relevant. Target serves mark 1.1550. If the quotes will be able to overcome it, then the road will be open to 1.1650.
Source Fort Financial Services