Technical analysis EURUSD 07.10.2015

EURUSD

The pair continues to move in a narrow range. Its grows is being restrained as ECB stimulus program expansion is expected and the fall is not happening because of the weakness of US Dollar due to unlikeness of the rate hikes in the nearest future.

The price is higher than the middle Bollinger band and is lower than SMA 5, but higher than SAM14. RSI index is higher than 50% level and steadily decreases. Stoch is leaving oversold zone.

Trading recommendations: The pair moves forming ascending “flag” figure. If the price falls lover than the middle Bollinger band and pass 1.1220 level, then there is a change that it will reach 1.1175 level.