31, May 2016

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General overview

The dollar rose after J.Yellen’s (the Fed Chairman) comments regarding a possible rate hike in June. The market showed a low volatility due to the holidays in the USA.

Current situation

The EUR/USD tried to grow still it could not break the level of 1.1200. The pair decreased and broke the support 1.1130. The EUR/USD set a new two-month low at 1.1097 on Monday and then started a weak upward correction. The support is at 1.1130, the resistance is at 1.1200.

MACD is in a negative area. The histogram is on the level of the signal line. RSI is neutral.

Trading recommendations

After the support level of 1.1130 breakthrough down the way to the support 1.1070 will be opened.