04, October 2016

EUR/USD (a 4-hour chart)

General overview

The dollar strengthened amid renewed optimism regarding Deutsсhe Bank.

Current situation

Technically, the price maintained its bearish tone. The euro was low volatile during the European hours on Monday. The EUR/USD remained below 1.1250 and kept its range-trade intact during the course of trade. The price decreased in the NY session. The price hovered above the 50, 100 and 200 EMAs in the 4 hours chart. The moving averages provide a strong support for the main currency pair. The resistance comes in at 1.1250, the support stands at 1.1200.

MACD is in the positive area. RSI remained within the neutral territory on Monday.

Trading recommendations

The level 1.1200 remains the key support area to watch for. A clear break below will open the way towards 1.1150.