EURUSD Technical Analysis 06.06.2017

EURUSD

The pair is trading near the local maximums amid the wait for the results of the ECB meeting on the monetary policy, which is scheduled for the 7-8th of June. The pair is supported by the "weakness" of the US dollar and the market's hopes that the ECB may announce the start to a decrease of stimulus in the near future.

The price is higher than the middle Bollinger band, higher than SМА 5 and SMA 14. RSI resides above the 50% level and moving horizontally. Stoch are rising.

Trading recommendations:
The pair will probably remain inside the 1.1165-1.1265 range us till the ECB meeting. But there's also a chance of it correcting to 1.1165.