EURUSD Technical Analysis 22.09.2016

EURUSD

The pair is receiving support amid the overall weakness of the US dollar following the results of the Fed.'s meeting on interest rates. The rates remained unchanged and the Fed's prognosis on economics and interest rate increase was quite dissapointing. The pair now has all the potential for a local rise.

The price is higher than the upper Bollinger band, higher than SMA5 and SMA14. RSI is rising. Stoch are in the overbought zone.
 

Trading recommendations: Buy the pair on the rebound back, approximately from 1.1215 with a probable target of 1.1275.