EURUSD Technical analysis 14.11.17

EURUSD

The pair is trading below 1.1685 as German and eurozone GDP data is expected to be released. It’s possible that the figures will turn out higher than predicted, which will lead to a local growth of the pair, but if the data is as predicted or lower, the pair will fall.

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

Trading recommendations:

If the released data is positive, a breakout of 1.1685 level may cause the pair to move up to 1.1725. At the same time, if the figures turn out as predicted or lower, the pair will go down to 1.1600, and then possibly further down to 1.1550.