EUR got weakened after the European Central Bank Governor’s speech concerning the economic growth issue which pointed out that if it does not accelerate Euro zone will face severe losses. EURUSD will be affected by the Fed meeting as well. This pair started its bearish movement after leaving a new high at 1.14142. The support rests at 1.12210 with resistance at 1.12690 which both lines are below the weekly pivot point at 1.13020. The EMA of 10 is on the EMA of 75 both located in neutral zone. All indicators are showing bearish trend; the MACD indicator is in negative territory, the RSI is on the oversold area and the ADX is showing strong sellers. The next trend will be massively under the influence of the fed meeting therefore it would act more volatile. It can be a good idea to wait for a while for a better chart setup however short positions are recommended with the target at 1.1200.
EURUSD analysis for 13.06.2016
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