EURUSD Technical analysis 06.12.17

EURUSD

The pair is consolidating amid expectations of passing of the tax reform bill in the US. Weak retail data in the eurozone this Tuesday put the pair under pressure, which may lead to its local fall, as the USD positions are getting stronger in general.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above the level of 50% and is rising. Stoch have reversed upwards.

Trading recommendations:

If the price doesn’t rise above the level of 1.1840, there’s a high probability of its local fall down to 1.1770 and then to 1.1720.