EURUSD is chiefly under the influence of some economic reports such as Italian Retail Sales m/m in Europe and Flash Services PMI, Prelim Wholesale Inventories m/m and Goods Trade Balance in the US. The support rests at 1.05250 with resistance at 1.06090 which both lines are below the weekly pivot point at 1.06650. The EMA of 10 is moving with bullish 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 showing upward momentum and the MACD indicator is in negative territory. The ADX is not showing any signals. Long positions are recommended targeting 1.0657 area.
EURUSD analysis for 25.11.2016
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