EURUSD analysis for 07.12.2017

As a result of Brexit deal, USD is gaining momentum leading EURUSD towards bearish movement. The support rests at 1.17770 with resistance at 1.18210 which both lines are below the weekly pivot point at 1.18890. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is moving in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal. The price is moving in lower Bollinger band and it might start its correction pattern at any time; meanwhile, short positions are recommended towards 1.17. https://fxglory.com/eurusd-analysis-for-07-12-2017/