EURUSD Technical Analysis 14.02.2017

EURUSD

The pair remains inside the short term downtrend against the ECB monetary policy, another spin of the Greek crisis and possible US dollar rise amid Trump's tax reform.

The price is lower than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides under 50% level and rising. Stoch signal turn upwards.

Trading recommendations: If Yellen makes it clear in the Senate today that the Fed will be following the economic situation and not rush with the interest rate hike, the US Dollar will remain under local pressure and then the pair will be able to rise up to 1.0665. At the same time, any words about the interest rate hike in regards to the upcoming March meeting will lead to the price decline first to 1.0575 and then possibly to 1.0550.