FX.co ★ Technical analysis and trading recommendations of EUR/USD for July 14.

4-hour timeframe

General picture:
Unexpectedly the sales signal weakened. The price fixed above Kidjun-sen, that was a signal for closing short positions. At present, we don't have a signal neither for purchase nor for selling, as Tenkan-sen and Kidjun-sen merged. That is why for choosing the trading direction it is recommended to wait for these lines divergence. The price also stopped at 1,2748, it could not exceed this level. That is why in case it does not fix above this rate the target will be the first support level at 1,2613 and 1,2506. Chinkou span is above the price chart that testifies about the upward mood. The Bollinger bands show a sideward movement - the lines are widening, however they are sideward directed that testifies about flat. MACD is rising tellinng us about the uptrend but within a sideward channel.
Trading recommendations:
In the current situation it is recommended to wait for trend direction determination. However, the price won't manage to fix above 1,2748, possibly there will be a rollback and in that case short positions can be opened with the Stop rate above 1,2748.

Apart from a technical picture the fundamental data should be also taken into account and the date of their release.

Picture explanatory notes:
Ishimoku indicator:
Tenkan-sen – red line
Kidjun-sen – blue line
Senkou-span A– light brown dashed line
Senkou-span B – light-purple dashed line
Chinkou span –green line
Bollinger bands indicator :
3 yellow lines
MACD indicator:
Red line and the histogram with white bars in the indicators window.