EURUSD Technical analysis 28.11.17

EURUSD

The pair is at 1.1900 mark amid the expectations of Jerome Powell’s speech in Congress and the news on a coalition government in Germany. If Powell shows adherence the Fed’s current policy, it may put the pair under pressure. However, if he doesn’t mention the topic, the pair may resume its local growth.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is moving horizontally below the overbought zone. Stoch are in the overbought territory.

Trading recommendations:

If the price falls below 1.1890 mark, it may lead to a local decline down to 1.1840. At the same time, the pair may go up to 1.2000 following Jerome Powell’s speech.