Technical Analysis Report - EUR/USD
26/07/2016 // 08:21:15 am
The currency, Euro remained almost stable on Monday. Despite of positive market data from Germany, the currency is very close to the monthly lows against the dollar. The USA dollar is backed by the forthcoming Fed meeting.
We continue to remain bearish on the currency pair. The Euro strived to gain the lost ground with humble gains, but, it failed to win back the 1.1000 level and dropped from the daily highs. The currency pair, EUR/USD has been in a bearish trend for 3 weeks on the daily chart. The $-hours chart is neutral. The resistance is observed at the level of 1.1000, and the support exists at 1.0900.
MACD is in the negative zone. The fall in the histogram points out to the strength of the sellers. RSI moved back to the oversold area and the fall in its signal line also indicates the strength of the seller.
The trading instrument strived to break the 50-EMA in the 1-hour chart, but dropped downwards. The price is lower than the bearish 50-EMA in the 4-hours chart. The downward movement of the moving averages (50, 100 and 200) indicates a sell signal.
The currency euro remained lower yesterday, but we predict a near-term decline to test the 1.0900 support level.
29/09/2016 // 07:44:21 am
Pound was weighed by Shafik’s dovish comments (the BOE deputy) as
29/09/2016 // 07:41:12 am
On wednesday, the US currency dollar rose because of profit fixati
27/09/2016 // 10:33:13 am
The dollar remained under pressure against its major rivals as stocks