EURUSD Technical analysis 12.12.17

EURUSD

The pair is still under pressure as the interest rates raise is expected to be announced by the Fed tomorrow following the two-day meeting. Another factor is that the ECB isn’t announcing a plan to change its monetary policy in any foreseeable future.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the level of 50% and is moving horizontally. Stoch are entering the oversold territory.

Trading recommendations:

The pair is highly likely to consolidate within the range of 1.1730–1.1810 as the results of the Fed’s meeting are expected to bring it down locally to 1.1700.