25, August 2016

EUR/USD (a 4-hour chart)

General review

EURUSD was unable to consolidate above the important 1.1320 level.

Current situation

Today, the pair EURUSD, started to lose, thus breaking through and consolidating below the important 1.1320 level. The pair is heading toward 1.1245 level

Trading recommendation

We expect the EURUSD dropping to slow down near the support level of 1.1245. Nevertheless, in the wake of the European currency the weakening the market may drop to the basic support level at the 1.1195-1.1210 area