19, August 2016

EUR/USD (a 4-hour chart)

General overview

A further weakening of the US currency brought EURUSD pair up from yesterday's consolidation levels. The current upward trend in the EURUSD market persists and is gaining momentum.

Current situation

Growth is restrained by a significant resistance level of EUR 1.1320. Support zone is located in the Eur 1.1207-Eur 1.1230.

Trading recommendations

We do not exclude the possible rollback from EUR 1.1320. Long positions are suitable on passing and confident settlement above this level.