EUR is being supported by the Business PMI report in Euro zone but the US market is closed on Monday due to the Independence day. Today EURUSD started its bullish bias above the weekly pivot point and is getting closer to the 50 of Fibonacci retracement. The support rests at 1.11180 with resistance at 1.11520 which both lines are above the weekly pivot point at 1.10910. The EMA of 10 is rising towards the EMA of 75. The RSI is above the 50 level, the MACD indicator is in neutral zone with bullish tendency and the ADX is showing strong buyers. The resistance level breakout will smooth the way for further rise to the 61.8 of Fibonacci retracement however after hitting this level sellers can start their trades.
EURUSD analysis for 04.07.2016
Comments are closed.