EURUSD analysis for 01.12.2017

Currently USD is under pressure due to the tax reform plan bill. Once it passes through, USD will gain momentum right away. The support rests at 1.18900 with resistance at 1.19480 which both lines are above the weekly pivot point at 1.18600. 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 moving in 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. EUR bulls will control the chart targeting 1.20. https://fxglory.com/eurusd-analysis-for-01-12-2017/