EURUSD Technical Analysis 21.07.2017

EURUSD

The pair is trading higher than the 1.1575 level amid the market's expectations that the ECB will start changing the economic policy this fall. The pair may continue rising, reaching its maximum level of May 2015, which is 1.1700, but before that, it may correct amid being strongly locally overbought. 

The price is higher than the middle Bollinger band, lower than SMA 5 and SMA 14. RSI resides in the overbought zone and moving horizontally. Stoch also reside in the zone. 
 
Trading recommendations: 
If the pair breaches the support level of 1.1575, there is a possibility it will continue down to 1.1530.