EUR and USD are both acting weak and today there is the ECB Non-Monetary Policy Meeting in Eurozone and the US will release ADP employment report.
The support rests at 1.18080 with resistance at 1.18600 which both lines are below the weekly pivot point at 1.18890. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the oversold area, the Stochastic is showing upward momentum and the MACD line is below the signal line in the negative territory. The ADX is showing weak sell signals.
Short positions are recommended towards 1.1725.

eurusd analysis