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Main » 2016 » July » 5 » Technical analysis and EUR / USD forecast for today 07/06/2016
23:39
Technical analysis and EUR / USD forecast for today 07/06/2016

 

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The euro weakened as a result of the current uncertainty of the future prospects for the British and Italian banks. Italian authorities suggest recapitalize state banks from the budget, while other Member States may respond negatively to such a proposal.

 

 

 

Current situation

EUR / USD remains below the rising channel Couple. The tool attempted to rise, but it was unsuccessful. The pair rebounded from an average of 50 skolzschey and approached the 200 moving average on the 4-hour chart.However, returning the seller to send the price below 1.1130. Resistance is at 1.1200, support - at 1.1130.


Technical indicators are in the "green" zone. MACD indicator has decreased. If the histogram returns into negative territory, we get a sell signal. RSI moved away from the oversold zone, giving a sell signal. Moving averages (50, 100 and 200) move horizontally. Moving average 50 acts as resistance for the pair.

 

Forecast EUR / USD rate today

You can expect to break 1.1050 support and continuing decline in the 1.1000 with the following Target.Alternatively, the pair likely in 1.1200-1.1220.

 

 

 

Based on materials from Fort Financial Services

 

Views: 111 | Added by: mik | Rating: 0.0/0
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