14, July 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The dollar is stable against the euro. Investors are waiting for the new signals regarding the USA economy.

Current situation

The euro recovered during the course of the day, the pair gained about 0.46%. The instrument remained in a short-term descending channel; the price approached its upper limit. The resistance is at 1.1130, the support comes in at 1.1050.

MACD indicator is at the centerline. If the histogram enters the positive territory, that will indicate buyers’ growing strength. If MACD returns into the negative area the sellers will take control over the market. RSI is in the neutral zone giving no signal.

The price broke the 50-EMA and 100-EMA in the 4 hours chart. The EUR/USD approached the 200-EMA which acts as a resistance for the pair.

Trading recommendations

The price is likely to remain in a flat limited by 1.1130-1.1050 levels.