EURUSD analysis for 19.12.2017

The US tax reform bill is losing its power over the EURUSD chart and today this pair will be chiefly under the influence of building permits data from the US. The support rests at 1.17660 with resistance at 1.18140 which the weekly pivot point at 1.17760 is located in between the lines. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is rising towards the overbought area, the Stochastic is showing upward momentum and the MACD line is above the signal line in the positive territory. The ADX is showing buy signals. Long positions are recommended towards the 61.8 level of Fibonacci at 1.185 and later 1.19. https://fxglory.com/eurusd-analysis-for-19-12-2017/