EURUSD Technical Analysis 17.08.2017

EURUSD

The pair remains in the consolidation period with a slight move downwards. The market is lowering its expectations regarding the cut of stimulus measures by ECB in 2018. If today's Eurozone CPI data still shows stability or decline, the pair's fall may be expected. 

The price is lower than the middle Bollinger band, but still higher than SMA 5 and SMA 14. RSI is turning downwards, crossing the 50% level. Stoch are also reversing inside the overbought zone.

 
Trading recommendations:
Sell the pair if the data is negative, considering a possible fall to 1.1685 level or may be even 1.1600 if the level is breached.