EURUSD Technical analysis 14.12.2015

EURUSD

The pair keeps consolidating. Attention of the market is focused to the results of the two-day long Fed. meeting which is to begin tomorrow. Fed interest rates decision and probability of increase will definately influence all financial markets and EURUSD pair. Any hint on the possibility of a hike will support the US Dollar and should opposite situation occur, we will see a reverse movement on the markets.

The price is on the lower Bollinger band, lower than SMA5 and SMA14. RSI is higher than 50% level and is decreasing steadily. Stoch are lower than 50% level and keep falling.

Trading recommendations: We are expecting technical breach of 1.0920 level to be made. If it happens, there is a chance that the pair will fall till 1.0800 this Wednesday.