EURUSD analysis for 11.04.2017

EUR is acting weak against USD despite the Investor Confidence Report. The support rests at 1.05750 with resistance at 1.05990 which both lines are below the weekly pivot point at 1.06190. 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 moving horizontally in the oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is showing buy signals. Short positions are recommended targeting 1.0550. https://fxglory.com/eurusd-analysis-for-11-04-2017/