EURUSD analysis for 30.08.2016

EURUSD is under the influence of Yellen’s speech and FOMC’s officials’ comments. The support rests at 1.11560 with resistance at 1.11920 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 has crossed the EMA of 100. The RSI is moving in oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The support level breakthrough will smooth the way for further decline targeting 1.1070.

https://fxglory.com/eurusd-analysis-for-30-08-2016/