At trading in Asia on Wednesday, the EUR/USD currency pair is trading with a decrease in quotations, remaining within the current support level at 1.1797 with a resistance level at 1.1855. The four-hour chart continues to develop in the area below the exponential moving averages, demonstrating the development of the bearish trend of this market in the short term.
The moving averages with a period of 21 and 55 days continue to move down with a slight slowdown, maintaining a minimal divergence and not forming a sell signal, which still speaks in favor of a bearish trend in this market in the short term.
The technical picture indicates the continuation of the downtrend in this market, as the MACD histogram entered the area just below its central line, and the strength indicator of the current RSI movement fell to the 40 line, confirming the bearish dynamics of this market in the short term.
Thus, we intend to sell this trading instrument today.