EURUSD Technical Analysis 10.11.2016

EURUSD

The pair is still under pressure against the backdrop of the expected continuation of the soft monetary policy in the EU and also the prospects of new economic policy of Donald Trump’s administration, which may lead to repatriation of American investors’ funds from abroad, followed by increased demand for the American currency.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and moves horizontally. Stoch reverse in the oversold zone.

Trading recommendations:
If the pair remains below 1.0950 level, there’s a possibility of its local lowering down to 1.0850.