EURUSD analysis for 04.02.2019

ISM manufacturing data and the US Nonfarm Payrolls came stronger than expected and supported USD.

The support rests at 1.14280 with resistance at 1.14680 which the weekly pivot point at 1.14530 is located in between the lines. The EMA of 10 is moving with bearish bias in the ascendant channel and it is above the EMA 100 and the EMA of 200. The RSI is moving on the 50 level and the Stochastic is showing downward momentum. The MACD line is below the signal line in the negative territory. The ADX is showing sell signal.

The bearish trend may continue targeting 61.8 level of Fibonacci at 1.1370.

Source: fxglory