EURUSD Technical analysis 15.10.2015

EURUSD

The pair fell sharply under 1.1460 level following the ECB Nowoty comments related to the the central bank stimulus program expansion. If the US consumer inflation data won’t be worse than expected, a further fall can be expected.

The price is higher than the middle Bollinger band, lower than SMA 5, but higher than SMA 14. RSI index is under overbought level and moving horizontally. Stoch left the overbought zone and signals that the price will go even lower.

Trading recommendations: It is better to sell the pair as long as the US consumer inflation data is positive with local target of 1.1385