T Analysis

EURUSD analysis for 15.10.2020

Yesterday Eurozone industrial production data supported EUR against USD and stopped the pair from further decline.
The support rests at 1.17320 with resistance at 1.17620 which both lines are below the weekly pivot point at 1.17890. The EMA of 10 is moving with bearish bias in the ascendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving below level 50, the Stochastic is moving in middle ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
1.17300 area is holding a strong support and it seems EURUSD is not willing to break any boundaries. Most probably EURUSD is consolidating but bullish trend can be expected towards 1.17800.

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Source: fxglory