Side Trend is expected
EUR has been under pressure due to business activity indexes in Germany and the European Union however Dollar Index has risen. On the chart, Price line is flouting more smoothly. There is no sign of a sharp trend in close future.
• Chart time-zone is UTC (+03:00)
• Candles’ time-frame is 4h.
The support rests at 1.10960 with resistance at 1.11480 which the weekly pivot point at 1.11110 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing buy signal.
The support level breakthrough will push the price down towards the middle ranges at 1.10700; otherwise EURUSD will be fluctuating within the support and resistance lines.
• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.