[SIZE="6"]Technical Analysis for EUR/USD: May 25, 2016
The Bonds market visualized an increasing optimism as the 10-years German government bonds yield increased which also heightened the charm of the European assets. The center of the attraction was the Economic Sentiment in May (the ZEW Institute). The index aggressively decreased which weakened the euro wherein the data came in at 6.4 against the expected 12.0.
The first support occurs at 1.1130 and at 1.1070 subsequently. The first resistance lies at 1.1200 and at 1.1250 subsequently.
An inveterate and a solid sell signal has been found. The price is below the Ichimoku Cloud and it is below the Chikou Span. The Tenkan-sen displays a descending movement and the Kijun-sen forms a horizontal movement. This activity will remain until the price is below the Cloud.
The MACD indicator is in a negative location. The price is declining.
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