EURUSD Technical Analysis 08.11.2016

EURUSD

The pair is traded in the narrow range of  1.1025-1.1060, awaiting for the results of the US presidential election. Victory of Donald Trump will cause a local growth. If Hillary Clinton wins the election, it will put the pair under pressure.

The price is lower than the middle Bollinger band, higher than SMA5, but lower than SMA14. RSI resides under 50% level and gradually rising. Stoch turned upwards.

Trading recommendations: Wait for the results of the US presidential election to be announced. If the pair risis higher than 1.1060 amid Trump's victory, it will push the pair up to 1.1200. If the pair falls lower than 1.1025 amid Hilary's win, it may cause a fall down to 1.0950.