The common European currency depreciated against the US Dollar on Wednesday, as it stopped its previous surge and dropped to 1.1149 by the end of day's trading session. On Thursday morning, the currency exchange rate tried to move northwards. However, the pair was stopped by the 55-day SMA at 1.1156, and, afterwards, it moved slightly lower, as the exchange rate was located at 1.1145 by 5:00 GMT. In general, the signals are mixed on the pair today, as daily aggregate technical indicators forecast, that the pair will surge, which would be hindered by the 55-day SMA.
On the hourly chart of the EUR/USD pair it can be seen that the currency exchange rate fell from 7:00 GMT until 18:00 GMT on Wednesday, without struggling at all with support levels as the 20, 55 and 100-hour SMAs and the lower Bollinger band. Since then the currency pair has been trading flat at the level it reached before, which is just below 1.1150, Dukascopy experts said (rated among the TOP Forex Brokers Masterforex-V World Academy http://www.masterforex-v.com/).
