EURUSD Technical analysis 17.12.2015

EURUSD

The pair remains under pressure on the wake of the weak German ecomony data, but if today's US economy statistical data is weaker than expected, it can put additional pressure on the currency, as yesterday's interest rate hike showed us that its increase will be determined by positive dynamics in american economy in the future.

The price is on the lower Bollinger band, lower than SMA5 and SMA14. RSI in lower than 50% level, but trying to turn upaward. Stoch are in the oversold zone.

Trading recommendations: Act according to the result of the US data. Positive data can make the pair fall lower than 1.0830 - to 1.0795. Negative data, on the other hand, will push the pair up to 1.1050 level.