EURUSD Technical analysis 15.03.2016

EURUSD

The pair keeps consolidating before the Fed decision on interest rates is announced. Most likely, it will keep oscillating in 1.1055-1.1200 range till the announcement. If there is a hint that the rates can be elevated on any of the following meetings and Janet Yellen confirms it, the pair can fall under a fair amount of pressure.

The price is touching the upper Bollinger band, being lower than SMA5 and on the SMA14 level. RSI is higher than 50% level and moving horizontally. Stoch are rising.

Trading recommendations: Sell the pair while it is rising from the upper range line with approximate target of 1.1055. Breaching of this level should lead to a further fall till 1.0825.