EURUSD analysis for 07.11.2016

USD is under pressure due to the US election. EURUSD is also under the influence of the US Unemployment Rate. The support rests at 1.10470 with resistance at 1.11110 which the weekly pivot point at 1.10900 is located in between the lines. The EMA of 10 is moving with bearish bias but it is located above the EMA of 100 and EMA of 200. The RSI is moving on the 50 area, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signal at the moment. EURUSD is falling down targeting the support area. Short positions are recommended for now.

https://fxglory.com/eurusd-analysis-for-07-11-2016/