EURUSD Technical Analysis 25.01.2017

EURUSD

Our prognosis on the pair remains unchanged. It has all chances to reverse locally amid positive economic statistics data from the US and good corporate data figures.

The price is higher than the higher Bollinger band, but already lower than SMA5 and SMA14. RSI resides higher than 50% level and gradually lowering. Stoch enter the oversold zone.

Trading recommendations: If the pair falls lower than 1.0710, there is a good chance it will fall reaching 1.0680 and after - 1.0625, which will correspond with 23% and 38% Fibonacci Retracement.