EURUSD Technical analysis 06.10.17

EURUSD

The pair has passed 1.1745 support level following the release of the minutes of the ECB September meeting, which demonstrated the bank's attitude on the reduction of stimulating measures, that is, doing it slowly and cautiously.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is moving down. Stoch are in the oversold zone.

Trading recommendations:

The pair will continue falling if today's numbers of new workplaces in non-agricultural sector of American economy turn out to be higher than predicted. Because of this, the pair may go further down to 1.1600.

Author: Semyon Kamensky