EURUSD Technical Analysis 02.12.2016

EURUSD

The pair remains inside the 1.0520-1.0715 range. It has all chances to fall reaching the lowest border of the range, if the US employment data is not worse than expected. It is assumed that American economy gained 175 000 new jobs in November, keeping an unemployment level at 4.9%.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides higher than 50% level and turning downwards. Stoch are in the overbought zone.

Trading recommendations: Sell the pair amid positive US unemployment data with a probable target of 1.0520.