EURUSD analysis for 21.11.2017

The political instability over the Germany coalition is bringing a lot of volatility for EURUSD. The support rests at 1.17240 with resistance at 1.17520 which both lines are below the weekly pivot point at 1.17610. The EMA of 10 is moving with bearish bias in 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 downward momentum and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals. EURUSD will continue its bearish trend towards the 61.8 level of Fibonacci at 1.167. https://fxglory.com/eurusd-analysis-for-21-11-2017/