16, June 2016

EUR/USD (a 4-hour chart)

 EUR/USD (a 4-hour chart)

General overview

The upcoming referendum in the UK kept pressuring the pair. The Fed announced its decision regarding the rates. As expected, the regulator left the rates unchanged.

Current situation

The pair remained in the descending channel. In general, the euro is still under pressure, even though it recovered yesterday. The pair EUR/USD grew to the mark of 1.1300 after the Fed decision.
The resistance is at 1.1300, the support come in at 1.1250.

MACD is in the negative area. The indicator grew that is a buy signal. RSI bounced from the oversold area upwards, it is another buy signal. The Moving Averages (50, 100 and 200) are parallel to each other, the price broke them upwards.

Trading recommendations

If the pair fixates above the level 1.1300 we will see a growth to 1.1400 – 1.1450. The consolidation below 1.1250 will made bears stronger. The pair will decrease to 1.1130.