FX.co ★ Technical analysis and trading recommendations for EUR/USD for June 18

4-hour timeframe

Overview:
The upward movement keeps on. The formed ‘buy’ signal with the target level of 1.2363 is finished off, however, there are no signs of reversal for now. Therefore, in the nearest time it is recommended to consider the purchases. The signal is strong and confirmed as the price has fixed above Ishimoku and Chinkou Span – above the price. Therefore, now bullish trading with target at 1.3491 (the third resistance level) is reasonable. In case of the price fixing below Kijun-sen, the closing of long positions is recommended. Chinkou Span is placed above the price curve, indicating rising sentiment. Bollinger bands are diverging and up-directed that testifies to upward motion continuation. MACD is moving up signaling about ascendant motion.
Trading recommendations:
In this situation, it is advisable to bull with target at 1.2491. Stop loss to place below 1.2320. Close positions manual after MACD down-reversal.
The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.