T Analysis

EURUSD analysis for 20.05.2020

After Powell’s speech EUR declined but the Eurozone economic sentiment index supported EUR.
The support rests at 1.09250 with resistance at 1.09580 which both lines are above the weekly pivot point at 1.08310. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is moving in overbought area, the Stochastic is moving in middle ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
The bulls are trying to touch the upper limit of Bollinger band at 1.09930, the reversal is happening afterwards.

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Source: fxglory