EURUSD Technical Analysis 05.10.2016

EURUSD

The pair is consolidating prior to the release of the ADP data. It is assumed that if the number of new workplaces rises by 170 000, if the numbers are higher than expected, then a local fall can be expected.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA 14. RSI is higher than the 50% level and moving horizontally. Stoch are demonstrating the weakening of the growing dynamics.
 

Trading recommendations: Sell the pair if the ADP data is strond and once the 1.1200 level is breached with probable target of 1.1120.