EURUSD Technical Analysis 29.12.2016

EURUSD

The pair consolidates within the range against the background of low volumes in pre-New Year week. The pair is likely to remain in the range of 1.0350-1.0480 until the end of the year. After the New Year, we expect the price to continue falling.

The pair is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above 50% level and moves horizontally. Stoch are rising.



Trading recommendations:
In the context of low volumes during the holidays, the pair may rise up to 1.0480 or even to 1.0500, but ultimately, it most probably will continue falling down to 1.0350 and 1.0300.