EURUSD analysis for 08.09.2017

Draghi’s comments could not weaken EUR, however, USD is acting weak against EUR. The support rests at 1.19940 with resistance at 1.20970 which both lines are above the weekly pivot point at 1.19180. 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 in overbought area, the Stochastic is showing upward momentum and the MACD indicator is in positive territory. The ADX is showing buy signals. The market will continue its bullish trend towards 1.25. https://fxglory.com/eurusd-analysis-for-08-09-2017/