EURUSD Technical Analysis 11.05.2017

EURUSD

The pair remains in the short-term uptrend, but despite that, we expect it to continue falling inside the trend to the lowest border, if the data from the US will show a positive dynamic today, and M. Draghi will confirm that the ECB is willing to follow the current course. 

The price is lower than the middle Bollinger band, lower than SMA5 and SMA14. RSI resides under the 50% level and moving horizontally. Stoch are still trying to rise.

Trading recommendations:
Our prognosis on the pair remains the same. Breaching of the 1.10850 level will cause a local fall to 1.0775 with a clear perspective of further fall to 1.0670.