EURUSD Technical review 14.07.17

EURUSD

The pair is trading above 1.1385 as the data on the United States consumer inflation and retail sales is expected to be released.

Euro evidently lacks its own growth stimuli, and it’s not able anymore to grow entirely at the expense of the US dollar’s weakness. That’s why if today’s USA data turns out to be strong, the pair will be put under pressure.

The price is below the middle Bollinger band, above SMA 5, but below SMA. RSI is surpassing 50% level moving upwards. Stoch are reversing upwards.

Trading recommendations:

Wait for the consumer inflation and retail sales data to be released in the USD. If the figures are strong, expect the price to drop down to 1.1386, and after that mark is passed, probably down to 1.1315.