EURUSD analysis for 08.11.2016

While USD is sensitive to the election reports, EUR is getting weakened due to the negative Factory Orders in Germany. The support rests at 1.10230 with resistance at 1.10530 which both lines are below the weekly pivot point at 1.10900. The EMA of 10 is moving with bearish bias and it has reached the EMA of 200 and they are both above the EMA of 100. The RSI is moving below the 50 level, the Stochastic is moving in low ranges and the MACD indicator is in neutral territory. The ADX is not showing any clear signal at the moment. Short positions are recommended targeting 1.1000.

https://fxglory.com/eurusd-analysis-for-08-11-2016/