EURUSD Technical analysis 22.11.17

EURUSD

The pair has started a process of tough consolidation. The investors clearly don’t wish to exhibit any activity before the holiday weekend in the US that begins tomorrow, on Thursday. The pair is likely to move within a narrow range today.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is moving horizontally but remains under the level of 50%. Stoch indicate the weakening of growth.

Trading recommendations:

We expect the pair to be trading within the range of 1.1710–1.1765 today. In prospect, we still believe that it will resume falling.