15, September 2016

EUR/USD (a 4-hour chart)

General overview

The EUR/USD pair ignored the weak Industrial Production report in the Eurozone. The quotes remained at the previous levels.

Current situation

The pair is trading in a consolidation range, not far from the recent lows. The euro gets under selling pressure on any up-move towards 1.1270. The price remained above the 50-EMA which acts as a support. The 50, 100 and 200 EMAs are neutral in the 4 hours chart.  The resistance is seen at 1.1270, the support stands at 1.1200.

MACD remained at the same level which confirms the strength of sellers. RSI is neutral, the indicator is close to the negative territory.

Trading recommendations

In the event that the sellers manage to force below 1.1200 the price will decrease towards 1.1130. An uptrend will start as soon, as the pair rises above resistance level 1.1270.