EURUSD Technical analysis 27.07.17

EURUSD

The pair is trading above 1.1725 level as the results of the Fed’s meeting trigger another period of weakness for the USD. The bank’s press release shows the regulator’s remaining concern about the low inflation, which jeopardizes the next, already a third one this year, raise of the interest rates.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the oversold zone and is reversing downwards. Stoch are leaving the oversold zone.

Trading recommendations:

If the pair passes 1.1725 mark, its local correction down to 1.1665 is possible, but it’s most likely that it will continue to consolidate in the short term.