Review and dynamics
Despite the rise in the pair EUR/USD after disappointing data on NFPR for May, which was released at the beginning of this month, by the end of last week the pair has reached the key support level of 1.1285 (the level of Fibonacci 23.6% to the last wave of decline from the highs of 2014, ЕМА50 on the daily chart, ЕМА200, ЕМА144 on 4-hour chart).
Since the opening of the trading day today, the pair is going up, which is probably part of the correction after significant decline at the end of last week.

Our opinion
Today’s economic calendar is uneventful. Volatility in the pair will increase tomorrow and in the morning on Wednesday. After than market participants will be preparing to know US Fed decision on the interest rate at 20:00 (GMT+2) and market activity will reduce.

On the daily, weekly and 4-hour charts the indicators OsMA and Stochastic show mixed movement. On the daily chart the indicators give sell signals, while 4-hour indicator is in favor of the buyers. The market is likely to be flat, as per the indications on the weekly chart.
It is possible that before 20:00 on Wednesday the pair EUR/USD will be close to the levels of 1.1200 (ЕМА200, ЕМА144 on the daily chart) and 1.1285.
Further movement will depend on the interest rate decision of the US fed and the following comments.
Breakout of support level of 1.1200 will trigger further decline to 1.1100 (lows of May), 1.1015 (lower limit of the descending channel on the daily chart) and may bring the pair back to the downtrend. After breakout of the resistance level of 1.1430, the pair may go to 1.1485, 1.1500, 1.1615 (Annual and May highs),and up to 1.1700, 1.1785 (Fibonacci 38.2%), 1.1900 (ЕМА144 on the weekly chart).

Support levels: 1.1200, 1.1180, 1.1100 and 1.1015.
Resistance levels: 1.1285, 1.1300, 1.1400, 1.1430, 1.1485, 1.1535 and 1.1615.

Trading tips
Sell Stop: 1.1240. Stop-Loss: 1.1270.Targets: 1.1200, 1.1180, 1.1100, 1.1015 and 1.0870.
Buy Stop: 1.1310. Stop-Loss: 1.1270. Targets: 1.1400, 1.1430, 1.1485, 1.1500, 1.1535 and 1.1600.

In the descending
In the descending

At the level of 1.1285
At the level of 1.1285

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