The Price looks to be moving smoothly
Euro-zone’s final consumer confidence index and the consumer price index in Germany have both risen and today there are no major news in the US. On the chart the price movement is reducing movement range.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.09920 with resistance at 1.10160 which both lines are below the weekly pivot point at 1.10440. The EMA of 10 is moving horizontally in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, the Stochastic is showing downward momentum and the MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
EURUSD may start its growth soon targeting 1.1030.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.