Forex: technical overview 25.01.18

EURUSD

The pair remains in a short-term uptrend as the USD is weakened and the ECB is still expected to stop the economic stimulus measures this year and to start raising the interest rates in the next year.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI continues to grow and is in the overbought zone. Stochastic oscillators are already there.

Trading recommendations:

If the pair remains above the mark of 1.2400 following the reveal of the ECB meeting results, the price is expected to continue going up to 1.2500, but if it drops below this mark, it may then correct to 1.2300–20.