At the start of the week the European currency is trading almost unchanged against the US dollar, while remaining near month low. The optimistic data from Germany did not affect the dynamics of the pair. At the same time the demand for the US currency supported before the meeting of the Federal Reserve.
Sentiment on the EUR / USD pair remains bearish. The euro started the week with small victories, but he was able to go back above $ 1.1000, and the pair dropped from daily highs. On the hourly chart the instrument EUR / USD remains bearish trend already 3 weeks. The picture on the 4-hour chart is neutral. Resistance is at 1.1000, support - at 1.0900.
MACD is in the negative zone. Histogram indicator decreased, which indicates the position gain sellers. RSI went back to the oversold zone, its signal line has decreased, which is also said to strengthen the position of sellers.
The tool attempted to break through the 50-EMA on the hourly chart, but the attempt was unsuccessful, and the price jumped down. Price is below a bearish 50-EMA on the 4-hour chart. Moving averages (50, 100 and 200) are directed downwards, which is a signal to sell.
Forecast EUR / USD today
The euro continued its downward movement in yesterday's trading. We can expect that in the short term the pair will fall to test the strength of the mark 1.0900.
Based on materials from Fort Financial Services