EURUSD Technical analysis 30.03.2016

EURUSD

The pair has reached the local maximum amid the overall weakening of the US dollar and the obvious signal that came from Yellen about pausing the rate increase. Today the pair can continue rising if the US employment data is weaker than expected, but if it is better, the pair can fall under pressure.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI is in the overbought zone, same as Stoch.

Trading recommendations: Buy the pair if the ADP data is weak and the 1.1335 level is breached with approximate target of 1.1525. But if the data is strong, there's a good possibility that the price will make a local move to 1.1150.