Yesterday the US currency weakened against other currencies. The pressure on the US dollar had a strong performance on the labor market, published last week. Meanwhile, investors' attention has shifted to the next meeting of central bankers in anticipation of a decision on the introduction of additional measures to stimulate the economy.
The euro / dollar rebounded from the level 1.1050 and tested the 1.1130 resistance. However, by the end of the trading price fell to 1.1100. In the short term, the market expected a moderately positive mood. Resistance is at 1.1130, support - at 1.1050.
MACD is still in the negative zone, but is already preparing to leave her. The indicator is at zero level at the moment. A further increase in the histogram shows the weakening of the sellers and buyers gain positions. RSI is in the neutral zone and the signal does not.
The price has broken the EMA-50 on 4-hour chart, the EMA-100 tested and jumped down from it. Now the price is between the moving averages, which act as support and resistance. On the hourly chart moving averages (50, 100 and 200) is set up, it can be a signal to buy.
Forecast EUR / USD today
Pair remains under pressure. If the instrument EUR / USD breaks through the 1.1050 level, the decline will continue with Target in 1.1000.
Based on materials from Fort Financial Services