analysis

EURUSD analysis for 08.02.2018

While the US is publishing strong economic data, EUR is still under pressure due to the employment reports last Friday.
The support rests at 1.22380 with resistance at 1.23040 which both lines are below the weekly pivot point at 1.24360. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and below the EMA of 100. The RSI is moving horizontally in oversold area, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
Short positions are recommended towards 1.215.

eurusd

eurusd

Source: fxglory