Yesterday EUR was empowered due to the Economic Sentiment in Eurozone but today it continued its bearish trend. The support rests at 1.07240 with resistance at 1.07700 which both lines are below the weekly pivot point at 1.09940. The EMA of 10 is moving with bearish bias and it is below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the Stochastic is moving in its minimum rate and the MACD indicator is in negative territory. The ADX is not showing any clear signal. Short positions are recommended targeting 1.0650.
EURUSD analysis for 16.11.2016
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