EURUSD analysis for 29.08.2016

Despite EURUSD’s sudden fall on Friday, today the pair started its trend with bullish bias. The support rests at 1.11830 with resistance at 1.12150 which both lines are below the weekly pivot point at 1.12370. The EMA of 10 is moving with bearish bias along the descendant channel and it is located above the EMA of 100. The RSI is moving in oversold area, the Stochastic has reached its minimum rate and the MACD indicator is in negative territory. The pair might continue its bearish movement and push the support line towards 1.1113.

https://fxglory.com/eurusd-analysis-for-29-08-2016/