Day timeframe
Ishimoku:
As it was expected the correctional movement is going on. There was also formed a purchase signal with the target level at 1,2754. This signal confirmed - Chinkou Span solidified above the price chart, however, the barrier for the upward trend is still Ishimoku cloud which is not reached by the price. However, in the nearest time it can happen. Meanwhile, the intermediate goal is 1,2754. After that all will depend on if the price fixes above the Ishimoku indicator or bounces from its upper boundary. At the week chart the price has also reached the Ishimoku target. At the day timeframe the price did not manage to overcome the first support level. The price is located above Tenkan-Sen and Kidjun-Sen lines and below the Ishimoku cloud lines that points to the upside movement. Tenkan-Sen is up-dirercted that means the uptrend continuation in a short term prospect. The Ishimoku cloud started to narrow that also testifiesw about a possible end of the downward movement. Kidjun-sen is up-directed telling that the uptrend is moving on in a long term prospect too.Chinkou-span is above the chart that approves the upside tendency.
Bollinger Bands:
This indicator shows the start of the upward movement. The lines started to widen being up-directed. That is why presently the movement is ascending, and in case of the price movement from the upper line there can begin a correction.
Presently, this indicator shows the upside trend. The most possible variant of developments now is the upward correctional movement at least to 1,2754.
Trading recommendations:
At present, EUR/USD pair demonstrates an upside correctional movement with the target at 1,2754. The Bollinger bands also show an uptrend. So the most preferable variant now is purchasing. In case of MACD turnout to the downside the correction will start and in this case it is not recommended to stake on the uptrend.
The underlines:
The Ishimoku indicator:
Tenkan-sen – red line
Kidjun-sen– blue line
Senkou-span A – light brown dashed line
Senkou-span B – light violet dashed line
Chinkou-span – green line
Bollinger bands indicator:
3 yellow lines:
MACD indicator:
Red line and hystogram with white bars in the indicators window.