Yesterday, the US currency has won back losses against major opponents after the publication of strong data on the housing market. Meanwhile, market participants are waiting for the announcement of the US Fed meeting, which started on Tuesday.
The euro continued to move in a downward direction and remained in bearish channel. Minimum session was recorded at the level of 1.0977. Now the pair EUR / USD is close to the local support at 1.0950. 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 in the neutral zone.
Instrument struck 50 and 100 EMA, the EMA and bounced off the 200 EMA on the hourly chart. Price returned below 100 EMA, and stayed there. Now the price is sandwiched between the 50 EMA and the 100 EMA on the hourly chart. Moving averages (50, 100 and 200) are directed downwards, which is a signal to sell.
Forecast EUR / USD today
As long as bids are maintained below the level of 1.1000, EUR / USD will focus on the area of 1.0900.
Based on materials from Fort Financial Services