Overview and Forecast EUROUSD 05.04.2016
The euro was supported thanks to the weak USD positions, flight from risky assets, as well as the positive European statistics. During March, the German and European manufacturing PMI exceeded forecasts, reaching 50.7 and 51.6, with expectations of 50.4 and 51.4. C on the other hand, the yield on German ten-year-old bond shows a decline against the British and overseas rivals, causing drops interest in the assets of the EU.
The tool marked a new maximum value in October 2015 in the area of 1.1450. Later met sales quotes and tested support 1.1350, and the pair grew up again, forming consolidation.
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 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 the Kijun-sen - upward. 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.
necessary for further growth, which quotes rose above 1.1450 with a target at 1.1550.
Source Fort Financial Services