12, August 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

Dollar traded higher on the back of the strong Jobless Claims report which showed a drop in the claims number.

Current situation

The market little changed on Thursday. The pair could escalate up to 1.1180, however, the rally was short-lived and weak. The price remained in the same range. The resistance is seen at 1.1200, the support stands at 1.1130.

MACD still points to the sellers’ positions weakening. RSI stays close to the overbought area.

The moving averages slightly changed from yesterday.

Trading recommendations

If the EUR/USD keeps growing its next stop could well be at the 1.1200 region. Should the pair soften, the price will drop to 1.1050.