EURUSD Technical analysis 10.01.18

EURUSD

The pair corrected upwards following yesterday’s fall after a range of long positions was closed. The price is likely to remain today within the range as the new inflation data from the US is expected to be released, but a local fall is also possible.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above the oversold zone. Stoch have reversed upwards.

Trading recommendations:

If the pair doesn’t remain in the range of 1.1915–1.1960 and goes below 1.1915, a limited lowering down to 1.1870 is possible.