EURUSD Technical analysis 04.02.2016

EURUSD

The pair left the 1.0800-1.0990 range it traded in for many days. It happened amid the unliklenness of the interest rate hike in the near future. The pair is consolidating and can continue rising if the employment data in the US is weak.

The price is on the upper Bollinger band, lower than SMA5 but higher than SMA14. RSI resides in the overbought zone and moving down. Stoch left the zone and falling.

Trading recommendations: The pair can continue rising despite the signals showing the price is in the overbought zone. If level 1.1100 is breached the pair may rise up to 1.1200 locally.