EURUSD Technical analysis 26.07.17

EURUSD

The pair is trading above 1.1620 level as the results of the Fed’s monetary policy meeting are expected to be positive for the US dollar. If the Federal Reserve signals that the balance reduction is to start as early as September, it may lead to the beginning of closure of long positions and global correction.

The price is above the middle Bollinger band, at the level of SMA 5, but below SMA 14. RSI is testing 50% mark. Stoch entered the oversold zone.

Trading recommendations:

If the pair passes 1.1625 mark, it’s possible that it’s going to drop down to 1.1550-55.