EURUSD analysis for 18.12.2017

The tax reform plan has been the most influential event for EURUSD. Today this pair will consolidate due to lack of economic reports in Eurozone. The support rests at 1.17500 with resistance at 1.18340 which the weekly pivot point at 1.17760 is located in between the lines. 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 rising towards the 50 level, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing buy signals. The resistance area seems to be too strong to be broken, therefore the pair may rise towards the upper Bollinger band but it will soon drop to 1.1730. https://fxglory.com/eurusd-analysis-for-18-12-2017/