EURUSD analysis for 20.11.2020
The situation with Covid-19 is not getting any better in the US and Eurozone and the strict quarantine is getting applied in cities. USD was supported by better-than-expected report on employment data.
The support holds 1.18560 with resistance at 1.19000 which both lines are above the weekly pivot point at 1.18330. The EMA of 10 is growing within the ascendant channel and it is above the EMA of 100 and 200. The indicators are showing mixed signals, the Stochastic is showing upward momentum. The RSI is falling towards level 50 and the MACD is moving in neutral territory. The ADX is showing buy signal.
Long positions are recommended towards 1.19000.