12.07.2017
EURUSD
On Tuesday the pair reached its May 2016 level and upon the opening of trades in Europe today, it started correcting while waiting for the Yellen's speech, which will include the bank's report on the monetary policy.
The price is higher than the middle Bollinger band, lower than SMA 5, but higher than SMA14. RSI is leaving the overbought zone. Stoch are turning downwards and signal to sell.
Trading recommendations:
Wait for the Yellen's speech. If its content is positive, then sell the pair considering its possible fall to 1.1385 or even to 1.1315. But if it turns out that the bank has clear doubts that the interest rate should be elevated, the pair may rise up to 1.1500-30.
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