The single European currency has lost ground against the US dollar. The reason for this was the strengthening of the dollar and the performance of the EU Central Bank head Mario Draghi. The head of the European regulator urged individual countries to help the Central Bank to increase the growth rate of the region's economy and inflation, and warned that the lack of economic reforms complicates the task.
The current situation on the EUR / USD pair
on Thursday left the Eurocurrency highs, quotes, turned down the correction. Against the background of large-scale sales price breaks down the level of 1.1370. Support couples is the mark of 1.1300, resistance is located at 1.1370. The MACD is in the positive zone. The histogram below its signal line. Indicator continues to decline, and supplies a signal to sell. RSI Oscillator is in the neutral zone. The indicator does not give clear signals. Price above the moving averages (50, 100, 200). Moving averages cross each other, intertwined on the 4-hour time frame, indicating that the price has changed direction.
Forecast EUR / USD today
assume that the price will decline further. EUR / USD pair may stay at the level of 1.1300, and then to go down to 1.1200
Source Fort Financial Services