EUR seems weak against the strong USD which is still being supported due to the possibility of rate hike. The support rests at 1.05150 with resistance at 1.05650 which both lines are below the weekly pivot point at 1.06650. 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 rising towards the 50 level, the Stochastic is moving in low ranges and the MACD indicator is in negative territory. The ADX is showing sell signal. Considering the bearish scenario, the next target will be 1.0550.
EURUSD analysis for 24.11.2016
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