EURUSD analysis for 04.10.2016

EURUSD had a sharp fall due to the renewed optimism regarding Deuts?he Bank. The support rests at 1.11580 with resistance at 1.12210 which both lines are below the weekly pivot point at 1.12240. The EMA of 10 is moving with bearish bias and it has reached the EMA of 100. The RSI is falling down below the 50 area, the Stochastic is showing downward momentum and the MACD indicator is in neutral territory. Further decline is expected targeting 1.1150.

https://fxglory.com/eurusd-analysis-for-04-10-2016/