EURUSD analysis for 11.05.2017

EURUSD continued its bearish trend since yesterday and today there are no important economic reports only the US will publish Unemployment Claims. The support rests at 1.08560 with resistance at 1.08860 which both lines are below the weekly pivot point at 1.09570. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 100 and the EMA of 200. The RSI is rising towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is not showing any clear signals. Short positions are recommended targeting 1.080. https://fxglory.com/eurusd-analysis-for-11-05-2017/