Thursday, November 16, 2017

EURUSD analysis for 16.11.2017

EURUSD climbed up the ascendant channel but it could not go beyond 1.185. The Unemployment Rate in Eurozone will bring some volatility to the market. The support rests at 1.17740 with resistance at 1.18390 which both lines are above the weekly pivot point at 1.16310. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in the overbought area, the Stochastic is moving in low ranges and the MACD indicator is in positive territory. The ADX is showing buy signals. EURUSD will continue its bullish trend towards 1.20.

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