Trend reversal signals are issued
Eurozone’s economic data such as gross domestic product could not support EUR against USD. EUR is still losing power against USD and as the chart and some indicators suggest, Bulls are taking the control for the next few days.
Chart Notes:
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.14280 with resistance at 1.14520 which both lines are above the weekly pivot point at 1.13710. The EMA of 10 is moving with bullish 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 moving in low ranges. The MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
EURUSD may continue its decline towards 61.8 level of Fibonacci at 1.38.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.