EURUSD Technical Analysis 09.06.2016

EURUSD

The pair is supported by the overall weakness of the US dollar on the wake of the recent decline in expectations about the Fed. interest rate hike, but the today's Draghi's comment can restrain its growth, as any increase in the Euro rate is negative for the EU economy. From the technical standpoint the pair is locally overbought and a strong Draghi's comment will cause correction.

The price is higher than the middle Bollinger band, lower than SMA5 but higher than SMA 14. RSI is leaving the overbought zone. Stoch have already left the zone and signal to buy.

Trading recommendations: Sell the pair on the Draghi's comment or once it took off from 1.1440-45 level with a probable target of 1.1335.