EURUSD analysis for 18.11.2020
EUR went under pressure when Poland and Hungary blocked the EU budget for the next 7 years. The inflation data in Eurozone is going to be released.
The support is located at 1.18420 with resistance at 1.18790 which both lines are above the weekly pivot point at 1.18330. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and 200. RSI is moving in overbought area, the Stochastic is moving in low ranges and the MACD indicator is in positive territory. The ADX is showing bullish signal.
We are staying bullish on EURUSD targeting 1.19000.