EUR/USD’s 4 hour MACD

Technical Reports

Pair’s consolidation under 1.2537 is extending. Trading state is neutral. Another increase is possible if 1.2222 support stands. Strong breach of 1.2494/2516 will head towards 100% projection of 1.0569 to 1.2091 from 1.1553 at 1.3075. Following pivot points include: (S1) 1.2315; (P) 1.2374 (R1) 1.2436.

Basing on a bearish divergence in 4 hour MACD, breach of 1.2222 will point out rejection from 1.2494/2516 and the short term forecast will become bearish to 1.1915 support.

Lift from the medium term bottom of 1.0339 has a corrective nature. Firm breach of 1.2516 will suggest bullishness and align 38.2% retracement of 1.6039 to 1.0339 at 1.3862. Rejection from 1.2516 will boost long term bearish prognosis and suggest repeat test of 1.0039 level.