EURUSD Technical analysis 17.07.17

EURUSD

The pair is consolidating above 1.1400 mark as the United States dollar remains weakened and the result of this July’s ECB monetary policy meeting is still expected to be revealed.
The pair doesn’t have its own growth stimuli, that’s why it’s unlikely that it will show any significant growth only because of the weak USD.

The price is above the middle Bollinger band, below SМА 5, but above SMA 14. RSI is under the overbought zone has reversed downwards. Stoch leave the overbought zone.

Trading recommendations:

The pair may correct to the lower border of the rising flag pattern. But if it passes 1.1410 mark, it may drop down to 1.1380 or even to 1.1315.