Wednesday, August 9, 2017

EURUSD analysis for 09.08.2017

USD has been supported by JOLT employment data. The support rests at 1.17040 with resistance at 1.17660 which both lines are below the weekly pivot point at 1.18010. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is showing downward momentum and the MACD indicator is in negative territory. The ADX is not showing any clear signals. The resistance level breakout will push the pair upward towards 1.18 area otherwise it will drop to 1.169

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