EURUSD analysis for 16.08.2017

The strong retail sales data from the US supported USD. The support rests at 1.17290 with resistance at 1.17490 which both lines are below the weekly pivot point at 1.17850. 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 below the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in negative territory. The ADX is showing buy signals. EURUSD will continue its bearish trend towards 1.1650. https://fxglory.com/eurusd-analysis-for-16-08-2017/