T Analysis

EURUSD analysis for 21.05.2020

The Eurozone’s flash PMI data supported EUR.
The support rests at 1.09440 with resistance at 1.09800 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 showing downward momentum and the MACD line is on the signal line in the neutral territory. The ADX is not showing any clear signals.
EURUSD has already reached the strong resistance line, considering the reversal pattern sellers can target 61.8 level of Fibonacci at 1.08600.

eurusd
Source: fxglory