EURUSD 4H (02.08.2014) Technical Analysis Training

FX:EURUSD   Euro / U.S. Dollar
402 0 3
EURUSD             4H Diagram Technical Analysis shows the following:

The EURUSD             got our 2.618 of fib (1.338) target last week and made a reaction towards to TenKan Sen (light green line).
MACD is turning weakly bullish under the zero line and RSI reacting from it's oversold level. In addition the pair breached the resistance line.

We have no special candlestick pattern. The price is under the KUMO, the Kijun Sen (blue line) and the Tenkan Sen (green line) too.

There is no special pattern. It is for sure the local bottom here.

I am not sure that the pair will move bullish yet. I think that we will have some consolidation here between 2.618 of fib and Tenkan Sen. Long the pair if it stabilizes (4h) above the Tenkan Sen for EMA 200. Short if it stabilizes (4H) under 1.338.
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