15, July 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The euro strengthened against the dollar amid the risk aversion. Traders became less cautious regarding the Brexit consequences as well. The USA published the Initial Jobless Claims that came out better than the forecast.

Current situation

The pair jumped to fresh weekly highs after the BoE’s decision to keep the rate unchanged and fell back on the news from the USA. The new daily high is at 1.1161. The resistance is seen at 1.1130, the support lies at 1.1050.

MACD was positive, its histogram grew which indicates the buyers’ strength. RSI is in the neutral zone giving no signal.

The price broke the 200-EMA which rejected it downwards in the 4 hours chart. The 200-EMA acts as a resistance for the pair now.

Trading recommendations

We may expect the trades between the levels of 1.1130 and 1.1050.