EURUSD is moving in the support area and it seems it tries to settle below the support at 1.17090. To have a chance to build upward momentum in the short term, EUR/USD must go back above 1.17200. The EUR/USD is expected to encounter 1.17500 in the next weeks.
The support rests at 1.17090 with resistance at 1.19440 which the price is moving below the Pivot Point at 1.17160 located between the lines. We can see the price movement in support area. The EMA of 10 is moving in bearish bias in descendant channel below EMA of 100 and the EMA of 200. The RSI is moving below the level of 30, the MACD histogram is in negative territory showing a sell signal and the Stochastic is moving in low ranges. The ADX is showing upward momentum.
• There is resistance at1.17230, followed by resistance at 1.17300 and 1.17370.
• There is support at 1.17090 Below, there is 1.17020 and 1.16950.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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