EURUSD Technical analysis 18.12.2015

EURUSD

The pair maintains the negative tone triggered by the Fed interest rate decision. It is possible that the USD bearish momentum will keep losing strenghth if the US economical statistics demonstrates weakening tendency. There is no clear image at the moment.

The price is on the upper Bollinger band, lower than SMA5 and SMA14. RSI index is lower than 50% and coming closer to oversold zone once again. Stoch signal an opportunity of downward movement.

Trading recommendations: Breaching of 1.0785 level can cause local price fall to 1.0700, but a weak data from USA can push it up to 1.1050.