EURUSD Technical Analysis 28.06.17

EURUSD

The pair is traded below 1,1350 level. If this level is breached, the pair is likely to experience a local price growth as the investors expect the ECB to wrap up the stimulating measures as soon as early next year. 

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch have also already entered the overbought zone.

Trading recommendations:

The pair stands a good chance of rising further up to 1.1425. However we still think that when the pair continues to rise up from that level, it’s a good time to sell. The selling will likely to be driven by the statistics showing yet another inflation drop in Eurozone.