EURUSD Technical Analysis 31.01.2016

EURUSD

The pair is still higher than 1.0650 level. It is possible that it will be trading inside the 1.0650-1.0770 range till the US employments data is published. The market is still a bit disorganized because of the fact that the new economic policy plan has not been published yet and his scandalous migration policy frightens the investors, urging them to be careful.

The price is lower than the middle Bollinger band, lower than SMA5 and SMA14. RSI resides lower than 50% level and moving horizontally. Stoch are rising.

Trading recommendations: Trade carefully inside the 1.0650-1.0770. But if the 1.0650 level is breached, it can result in the price falling to 1.0625 and 1.0580.