EURUSD Technical analysis 16.12.2015

EURUSD

The pair is consolidating in a narrow range before the Fed interest rate decision. It is assumed that the interest rate will be increased by 0.25% and the report regardgin the level and pace of the rate increase will be published. If the prognosis is moderate, the pair will turn upwards after a local fall.

The pair is on the lower Bollinger band, higher than SMA5, but lower than SMA14. RSI is lower than 50% level and moving horizontally. Stoch have left the oversold zone and keep rising.

Trading recommendations: All eyes are on Fed decisioin now. While estimating the possible outcome, we suggest that on the possible fall the pair should be bought with a local target of 1.1100.