At trades the forex currency market, the euro rose pyatniktsu to greenbacks on the background of optimistic inflationary data from the EU. At the same time, demand for the dollar limits US Federal Reserve decision on interest rates preserving at the same level.
On Friday the pair were held in a positive manner. The pair jumped to the highest point and set five-week high in 1.1200. The euro rose about 0.80% during the day. Resistance is at 1.1200, support - at 1.1130.
According to the indicators, the advantage on the side of the bulls. MACD is in the positive zone. Histogram rose, indicating the strengthening of customer positions. RSI entered overbought zone.
On the 4-hour chart, the price has broken through the 200 EMA, which was the last obstacle in the upward direction. Now the price is directed to above 1.1200.
EUR / USD forecast for today
In the market, you can expect a small pullback. The price can go back to the area of 1.1100 (where the 200 EMA) where you can open a buy position. In this case, the levels of 1.1130 and 1.1200 would likely TARGET.
Forecast Fort Financial Services