EURUSD Technical analysis 31.10.17

EURUSD

The pair is under pressure following the ECB's decision to abandon the stimulation measures gradually, while no definite deadlines for the program's termination have been announced. If today's data on the eurozone inflation turn out to be lower than predicted, the pair is likely to reenter the downtrend.

The pair is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below 50% level and moves horizontally. Stoch have reversed downwards.

Trading recommendations:

The pair is highly likely to continue falling down to 1.1550 and then to 1.1475.