Forget Password


<< Back

EUR/USD (a 4-hour chart) -Technical Analysis for 21.07.2016

21/07/2016 // 10:47:21 am

General outline:

The most important factors pushing the dollar were: positive Building Permits and Housing Starts in the USA and the speech from Dennis P. Lockhart (the Fed representative). Dennis P. Lockhart said that the Brexit did not do much bad to    USA economy and the currency sustained the blow. Additionally, the odds that the USA regulator will hike the rate this year also keep growing.

Current situation

The currency pair, EUR/USD continued to remain under stress. The euro battled to recover to the 1.1000 level but failed but failed to move beyond by the mark 1.1030. The instrument existed in the declining channel, at its lower limit. The resistance is observed at 1.1050, the support exists at 1.1000.

MACD is in the negative zone. The decline in the histogram indicates the strength of the sellers. RSI moved back to the oversold area, its signal line decreased that also indicates strength of the seller.

The price is lower than the 50-EMA which is still acting as a resistance in the 4 hours chart. The downward movement of the moving averages (50, 100 and 200) indicates a sell signal.

Trading recommendations

The currency pair halted at the strong support at 1.1000. if the EUR/USD breaches the level downwards the pair will move down to 1.0900.


Share Us :

Recent Posts

Technical Analysis Report - GBP/USD

29/09/2016 // 07:44:21 am

General outline

Pound was weighed by Shafik’s dovish comments (the BOE deputy) as

Read More

Technical Analysis Report - USD/JPY

29/09/2016 // 07:41:12 am

General outline

On wednesday, the US currency dollar rose because of profit fixati

Read More

Technical Analysis Report - GBP/USD

27/09/2016 // 10:33:13 am

General Outline:

The dollar remained under pressure against its major rivals as stocks

Read More

Technical Analysis Report - USD/JPY

27/09/2016 // 10:26:19 am

General outline

The yen strengthened as a safe asset amid a risk aversion. The BoJ chie

Read More


Contact No: +971 589813411