EURUSD Technical Analysis 08.08.2016

EURUSD

The pair has been trading with slight changes since its return to the 1.1020-1.1155 range awating for the ECB decision on monetary policy. It can be assumed that since the Bank of England eased the monetary policy, the ECB can also go for the additional stimulus, which will have a negative impact on euro.

The price is lower than the middle Bollinger band, on the SMA5 level, but lower than SMA14. RSI is lower than the 50% level and falling. Stoch also resides lower than the 50% level.
 

Trading recommendations: Sell the pair once it has gone higher than 1.1155 level considering its possible fall to 1.1020.