EURUSD Technical analysis 11.08.17

EURUSD

The pair remains in the short term downtrend as the fresh data on the US consumer inflation is expected to be released today. If the inflation figures turn out to be at least on the predicted level or even higher, the pair will continue dropping.

The price is below the middle Bollinger band, below SMA 5, but above SMA 14. RSI is passing 50% level and is moving downwards, Stoch are also reversing downwards, leaving the overbought zone.

Trading recommendations:

Sell the pair at the breakout of 1.1720 level as it's likely to fall down to 1.600-05.