EURUSD Technical analysis 15.11.17

EURUSD

The pair has reached a local maximum thanks to the strong eurozone and Germany GDP data that was released yesterday, but the situation may change if today’s consumer price index in the US turns out above the predicted level.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and is reversing downwards. Stoch are indicating the same dynamics.

Trading recommendations:

If the US data is positive and the pair, as it’s technically overbought, goes down below 1.1775, the price may fall down to 1.1660 mark.