EURUSD is moving with bullish bias as a result of Draghi’s comments. Today there are no major economic reports in Eurozone and the US.
The support rests at 1.19770 with resistance at 1.20280 which the weekly pivot point at 1.19970 is located in between the lines. The EMA of 10 is moving with bearish bias along the descendant channel but it is above the EMA of 100 and the EMA of 200. The RSI is moving horizontally on the 50 level, the Stochastic is showing downward momentum and the MACD indicator is in positive territory. The ADX is showing weak sell signals.
Short positions are recommended towards 1.18 area.

eurusd analysis