EURUSD Technical Analysis 18.05.2017

EURUSD

The pair is trading lower than 1.1160 after a surge that happened amid the political crisis in the US. If the situation keeps evolving in this direction, there is a possibility that the pair will continue rising, but if the tensions weaken, it may lead to a strong correction amid the pair being severely overbought.

The price is higher than the middle Bollinger band, lower than SМА 5, but higher than SMA 14. RSI resides in the overbought zone. Stoch are also there.

Trading recommendations: 
Sell the pair if it falls lower 1.1140, and then lower than 1.1110 with a probable target of 1.1020, considering a perspective of its further fall.