Friday, January 5, 2018

EURUSD analysis for 05.01.2018

The NFP data today will determine the price direction. The support rests at 1.20180 with resistance at 1.20790 which both lines are above the weekly pivot point at 1.19570. 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 falling towards 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. While 1.19 level remains the floor of the market, the price may fall towards the lower Bollinger band but it will finally continue its bullish trend towards 1.21.

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