EURUSD analysis for 05.12.2016

Germany bonds market left a negative impact on EUR on Friday. The support rests at 1.05180 with resistance at 1.06050 which both lines are below the weekly pivot point at 1.06480. The EMA of 10 is moving with bearish bias along the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is rising towards 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. Long positions are recommended targeting 1.0689 area however, the support level breakthrough will smooth the way for further decline targeting 1.0461.

https://fxglory.com/eurusd-analysis-for-05-12-2016/