As EUR was weakened due to the Economic Sentiment in Germany, it will be under the influence of Consumer Price Index in Germany. The support rests at 1.06680 with resistance at 1.07080 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 downward momentum and the MACD indicator is in positive territory. The ADX is not showing any clear signals. The pair will be falling down within Andrew’s pitchfork. Sellers can target 1.0650 followed by 1.0600.
EURUSD analysis for 18.01.2017
Comments are closed.