EURUSD Technical Analysis 20.10.2016

EURUSD

The pair is hanging on the strong support level of 1.0960 and can continue falling if Draghi indicates that the extra soft monetary policy will be prolonged.  
 
The price is lower than the middle Bollinger band, lower than SМА 5 and SMA 14. RSI resides lower than 50% level and moving gorizontally. Stoch are lowering.

Trading recommendations: If the price falls lower than 1.0960 level, it will lead to a further decrease to 1.0900. But if Draghi doesn't mention anything specific about the prolongation of stimulus measures, the price can turn upsude and start aiming for 1.1000.