30, December 2015

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The ECB Mersch regulator's statements regarding the further monetary policy easing readiness, alongside with the deposit rates decrease did not cause noticeable reaction on the pair, as a matter of fact, the Speaker did not say anything new. In addition, the single currency was kept afloat by the flight from risky assets.

The first support lies at 1.0925 and then at 1.0800. The first resistance stands at 1.1050, the next one is at 1.1150.

The price action is in the Ichimoku Cloud. The Tenkan-sen and the Kijun-sen show a horizontal movement.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

After the level of 1.1050 breakthrough the growth will be continued now. The first target is the level 1.1150. We do not exclude the falls to 1.0800.