EURUSD analysis for 06.02.2018
While there were no major economic reports yesterday, the stock market left massive impact on EURUSD and pushed it down.
The support rests at 1.23290 with resistance at 1.24130 which both lines are below the weekly pivot point at 1.24360. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is rising towards the 50 level, the Stochastic is moving in low ranges and the MACD indicator is in the negative territory. The ADX is not showing any clear signals.
The resistance level breakout will smooth the way for further growth towards 1.25, otherwise it will drop to 1.21.