EUR is being supported by the 10-year government bonds yield in Germany which surpassed its counterparts and grew. EURUSD is finding support at 1.12650 with resistance at 1.13070 which both are above the monthly pivot point at 1.12030. The EMA of 10 is below the EMA of 50. The price is under the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen is showing upwards direction for the trend while the Kijun-sen is showing horizontal movement. According to this indicator, downward trend is expected for now. The MACD indicator is in negative territory signaling the price correction. The RSI and the ADX are both showing stronger sell opportunities rather than buy. Short positions are recommended with the target at 1.1150
Technical analysis of EURUSD dated 18.04.2016
Comments are closed.