EURUSD analysis for 31.07.2020

USD is under pressure and the report on GDP which came better than expected could not recover the loss.
The support rests at 1.18120 with resistance at 1.19430 which both lines are above the weekly pivot point at 1.15720. 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 high ranges and the MACD line is above the signal line in the positive territory. The ADX is showing buy signal.
EURUSD is on bullish run. The first target is 1.19500.

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Source: fxglory