EURUSD analysis for 13.11.2018
EURUSD is mostly under the influence of economic reports in Germany such as ZEW Economic Sentiment and Inflation Rate.
The support rests at 1.12150 with resistance at 1.12780 which both lines are below the weekly pivot point at 1.13840. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving 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 weak sell signal.
The price may decline towards the lower Bollinger band at 1.1195, however, the resistance level breakout will confirm a correction pattern towards the weekly pivot point at 1.138.