EURUSD Technical Analysis 04.11.2016

EURUSD

The pair is consolidating prior to the presidential elections in the US. It can fall under a fair amount of pressure today if the US unemployment data either meets the expected estimate or go higher. It is assumed that the number of the new workplaces, according to Bloomberg will be at 170 000 and the employment rate will come at 4.9%.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI is moving horizontally. Stoch are demonstrating the weakening of the growth.

Trading recommendations: Sell the pair if the data is strong, considering its possible fall to 1.1055. If this level is breached, the pair may fall to 1.1015.