EURUSD analysis for 23.01.2018

EURUSD has been consolidating in 1.22 area due to lack of fundamental and economic reports. There will be some volatility during the final days of the week. The support rests at 1.22470 with resistance at 1.22970 which both lines are above the weekly pivot point at 1.22340. The EMA of 10 is moving horizontally in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is rising above the 50 level, the Stochastic is moving in high ranges and the MACD indicator is in the positive territory. The ADX is showing buy signal. We still remain bullish on this chart targeting 1.24. https://fxglory.com/eurusd-analysis-for-23-01-2018/