EURUSD Technical analysis 07.08.17

EURUSD

The pair is trading lower compared to last Friday's maximum levels amid the growing expectations that the resumed strong growth trend on employment market will provide support for the inflation after all and it will finally trigger the third interest rate raise this year by the Fed.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is under 50% level and is falling. Stoch are growing.

Trading recommendations:

If the price doesn't rise above 1.1800 level, there's a possibility of its falling again down to 1.1680.