EURUSD analysis for 08.06.2016

Euro was expected to gain power due to the final GDP for Q1 but it didn’t and could not make the EURUSD pair move with bullish bias. After the sudden growth on June the 3rd, EURUSD has been moving with no interest in bullish or bearish. The support lies at 1.13550 with resistance at 1.13830 which both lines are above the weekly pivot point at 1.12780. The EMA of 10 is rallying up and has already passed the EMA of 75. All indicators are signaling price growth, the RSI is around the overbought area at 70, the MACD indicator is in positive territory and the Stochastic is showing upside momentum. The price is above the Ichimoku Cloud and the Chinkou Span, the Tenkan sen is showing upward trend and the Kijun sen is showing horizontal trend. The resistance level breakout may push the price to higher ranges targeting 1.1615.


https://fxglory.com/eurusd-analysis-for-08-06-2016/