EURUSD analysis for 07.06.2017

Europe is releasing Italian Retail Sales m/m and German Factory Orders m/m along with the US publishing Consumer Credit m/m and Crude Oil Inventories. The support rests at 1.12520 with resistance at 1.12870 which both lines are above the weekly pivot point at 1.12240. 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 showing downward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals. Despite the pair’s attempt to fall, it will continue its bullish trend targeting 1.13 area. https://fxglory.com/eurusd-analysis-for-07-06-2017/