Technical analysis EURUSD 06.10.2015

EURUSD

The pair consolidates awaiting the Mario Draghi speech (president of ECB). New   announcements regarding the ECB stimulus program will put a certain level of pressure on the pair and cause the increase of risk appetite and in buying shares of European companies which usually causes a negative effect on Euro.

The price is higher than the middle Bollinger band and higher than SMA 5 but lower than SMA 14. RSI index is lower than 50% level and is rising. Stoch is in oversold zone.

Trading Recommendations: Sell the pair if 1.1170 level is passed with local target of 1.1100-05