EURUSD analysis for 24.05.2017

Fed’s decision regarding the rate hike can influence EURUSD today along with the FOMC meeting. The support rests at 1.11600 with resistance at 1.12020 which both lines are above the weekly pivot point at 1.11130. 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 moving horizontally on the 50 level, the Stochastic is moving in low ranges and the MACD indicator is in positive territory. The ADX is not showing any clear signals. Short positions are recommended targeting 1.10. https://fxglory.com/eurusd-analysis-for-24-05-2017/