EURUSD analysis for 08.05.2017

The US has been announcing negative economic reports and on the other hand Macron’s victory made the EURUSD chart bullish. The support rests at 1.09650 with resistance at 1.10030 which both lines are above the weekly pivot point at 1.09570. 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 above the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. Long positions are recommended targeting 1.1050. https://fxglory.com/eurusd-analysis-for-08-05-2017/