EURUSD Technical Analysis 12.05.2017

EURUSD

The pair remains in a short-term uptrend, but despite that, we expect it to continue falling down to the lower border. If the data on the US inflation is not worse than expected or even higher, the pair may breach the strong support level and go lower. 

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

Trading recommendations:
Our prognosis remains unchanged. Beaching of the 1.10850 level will cause a local fall to 1.0775 with a perspective of a further fall to 1.0670.