EURUSD Technical analysis 23.11.17

EURUSD

On Wednesday the pair spiked following the release of weak data on retail sales in the US and growing doubts that the Fed will continue actively raising the rates in the next year as the inflation is weak. These doubts arose after the release of the latest minutes of the Fed’s monetary policy meeting.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI moves horizontally but remains under the overbought zone. Stoch are already in the overbought territory.

Trading recommendations:

If the pair doesn’t pass 1.1835 mark, there’s a possibility of its correcting to 1.1785.