EURUSD Technical Analysis 24.05.2017

EURUSD

The pair is trading higher than 1.1165 after reached the local 6-month record amid the overall weakness of the US dollar and elections in France. Nevertheless, the pair remains being highly overbought, which will cause a fall amid the probable US interest rate hike. 

The price is lower than the middle Bollinger band, lower than  SМА 5 and SMA 14. RSI is moving horizontally above the 50% level. Stoch are in the oversold zone.

Trading recommendations:
Sell the pair if it falls lower than 1.1165 with a probable target of 1.1080, and then 1.1025.