EURUSD analysis for 16.06.2017

There are no important economic reports in Eurozone but the US is publishing building permits data. EURUSD is not going to be volatile today. The support rests at 1.11330 with resistance at 1.11610 which both lines are below the weekly pivot point at 1.12150. The EMA of 10 is moving with bearish bias along the descendant channel and it is above the EMA of 200 and below the EMA of 100. 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 showing sell signals. It seems that EURUSD has already started its correction pattern targeting 61.8 level of Fibonacci at 1.123. https://fxglory.com/eurusd-analysis-for-16-06-2017/