EURUSD Technical Analysis 09.12.2016

EURUSD

The pair fell to the 1.0585 level amid the decision of the ECB to keep the stimulus till the end of 2017, while the market was hoping that the measures will last till the next summer.

The price is lower than the middle Bollinger band, higher than SMA5, but lower than SMA14. RSI resides under 50% level and moving horizontally. Stoch are reversing inside the oversold zone.

Trading recommendations: Sell the pair on its possible correction up from 1.0645, or upon breaching 1.0585 level with possible move to 1.0530 amid the Fed's decision to elevate the interest rates next week.