EURUSD analysis for 05.05.2017

Today there are several economic reports in the US and Europe to influence EURUSD such as Non Farm Payrolls and Unemployment Rate in the US along with Retail PMI in Europe. The support rests at 1.09640 with resistance at 1.1 which both lines are above the weekly pivot point at 1.08870. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 100 and the EMA of 200. The RSI is moving horizontally in the overbought area, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is showing buy signals. EURUSD will continue its bullish trend targeting the resistance area followed by 1.120 https://fxglory.com/eurusd-analysis-for-05-05-2017/