Technical analysis EURUSD 05.10.2015

EURUSD

The pair is trying to grow using US Dollar weakness. The risk that ECB stimulus program is going to be expanded is restraining the growth and keeps USD from giving up its positions. It may keep consolidating on this level for quite some time.

The price is higher than the middle Bollinger band and higher than SMA 5 and SMA 14. RSI index is higher than 50% level and is on the rise. Stoch is not very informative as of now.

Trading recommendations: Buy the pair if 1.1265 level is passed with a probable target of 1.1325. But keep in mind that a fall lower than 1.1240-45 can lead to a further downside movement the lowest trend level of 1.1170.