EURUSD analysis for 25.05.2017

Today there are no important economic data in Eurozone however the US is publishing unemployment claims data. The support rests at 1.12080 with resistance at 1.12600 which both lines are above the weekly pivot point at 1.11130. 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 falling towards the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in positive territory. The ADX is not showing any clear signals. The 1.126 level seems to be a strong resistance area therefore short positions are recommended targeting 1.11. https://fxglory.com/eurusd-analysis-for-25-05-2017/