The euro has ignored macroeconomic statistics at the end of last week and continues to strengthen in tandem with the US dollar. Focus attention on the new week will be sent to the meeting of the Monetary Policy. In case of unexpected statements by ECB President Mario Draghi, the European currency may get an additional boost growth.
On Friday, the euro / dollar suddenly dropped and lost about 0.74%. Now on the big picture of the instrument is dominated by bearish sentiment. Resistance is at 1.1050, support - at 1.1000.
MACD is at zero. If the histogram display will go into negative territory, it will talk about strengthening the position of the buyer. RSI approached the oversold zone.
On the 4-hour chart, the price rebounded from the 200-EMA. The pair overcame 100 and 50-EMA-EMA, which is a signal for sale.
Forecast EUR / USD today
The pair may recover to 1.1080, only to resume the decline to the 1.0900 mark.
Based on materials from Fort Financial Services