EURUSD Technical Analysis 06.02.2017

EURUSD

The pair may remain within the range, as it is restrained by the ECB, that is inclined to continue expansionary monetary policy and the overall weakness of the US dollar amid the uncertainty of the interest rate increase and the start of Trump's fiscal economic program.

The price is lower than the middle Bollinger band, lower that SMA5 and SMA14. RSI is testing 50% level. Stoch are turning downwards.

Trading recommendations: Most likely the pair will remain inside the 1.0740-1.0825 range. But if it breached the level of 1.0740, there is a possibility of a local fall to 1.0680.