Traders resumed the euro buying amid the US stock indices negative dynamics and a new wave of oil prices fall when the Energy Ministry report pointed to the oil reserves growth in the US stores. The ECB released its latest meeting minutes. According to the December European Central Bank minutes release the inflation outlook has been deteriorated again.
The first support lies at 1.0800 and then at 1.0730. The first resistance stands at 1.0925, the next one is at 1.1050.
There is a non-confirmed and a weak buy signal. The price is on the Ichimoku Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement and form a “Dead Cross”. The upward movement will be until the price is above the Cloud.
The MACD indicator is in a neutral territory. The price is decreasing.
We expect the 1.0800 line break that will open the way for the sellers to 1.0730.