Monday, July 10, 2017

EURUSD analysis for 10.07.2017

Europe is releasing Balance of Trade along with the US publishing Fed Labor Market Conditions Index (MoM). The support rests at 1.13900 with resistance at 1.14120 which both lines are above the monthly pivot point at 1.13280. 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 moving above the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals. Long positions are recommended targeting 1.144 area.

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