While EU’s trade Balance supported EUR, traders are waiting for Economic Sentiment for January from ZEW. The support rests at 1.06200 with resistance at 1.06760 which both lines are above the weekly pivot point at 1.05920. The EMA of 10 is moving with bullish bias and it is above the EMA of 100 and the EMA of 200. The RSI is falling towards the 50 level, the Stochastic is showing upward momentum and the MACD indicator is in positive territory, heading down. The ADX is showing a buy signal. The next candle seems to be bearish after the bullish candle. Sellers target can be 1.0550.
EURUSD analysis for 17.01.2017
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