As it became known, the US new home sales totaled 0.481m in March against forecasted 0.513m. The manufacturing sector activity index by Markit reached 54.2 in April against forecasted 55.5.
The price is finding the first support at 0.9540, the next one is at 0.9370. The price is finding the first resistance at 0.9750, the next one is at 0.9950.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen shows a downward movement and the Kijun-sen shows a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a neutral territory. The price is consolidating.
Trading recommendations
We advise to long with the first target - 0.9750. When the pair consolidates above the first target, we can open deals to the level of 0.9950 - Fort Financial Services experts said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
