EURUSD Technical analysis 11.11.2015

EURUSD

The pair keeps consolidating in a narrow range before the publication of the US retail sales and PPI (MoM) data which is to take place this Friday. ECB president M. Draghi will give a speech later today and if stimulus program is mentioned there the pair will most certainly fall under a certain amount of pressure.

The price is lower than the middle Bollinger band, higher than SMA5 and SMA14. RSI index is above oversold line and showing downside movement. Stoch also singal growth weakening.

Trading recommendations: Sell the pair with local targets of 1.0700, 1.0650 and 1.0515.