FX.co ★ Technical Analysis and Trading Recommendations for the EUR/USD for November 15.

4-часовой таймфрейм

General picture:
The sell signal continues going on with the target to 1,3576. This signal is approved and firm, as Chinkou-span is below the price chart, and the price - below Ishimoku cloud. The price is also below the pivot level of 1,3789. That is why at this moment the price target is the first support level of 1,3497. In case of overcoming this support level the next target will be the second support level at 1,3277. Worth pointing out that presently an up-going correction takes place, that is shown by MACD, however, it seems to come to an end, as the price did not solidify above Kijun-sen. In case of price fixation above Kijun-sen (1,3780), the sell signal will weaken and will come as a signal for cutting short positions. Chinkou-span is below the price chart that means a confirmation of the current sell signal. The Bollinger bands demonstrate a downtrend, the lines are expanding to the downside, that means a downward tendency. MACD is rising that points to a current correctional movement.
Trading Recommendations:
In the present situation it is recommended to stake on a downtrend with the target at 1,3497. Stop Loss should be set above 1,3780. It is better to enter the market after MACD turning to the downside.

Apart from the technical picture, the fundamental data and the release time should be taken into account.

Picture Explanations:
Ishimoku indicator:
Tenkan-sen – red line
Kijun-sen – blue line

Senkou-span A– light brown dashed line
Senkou-span B – light-violet dashed line
Чинкоу Спан – зеленая линия
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
Red line and the hystogram with white bars in the indicators window