EURUSD Technical analysis 15.12.17

EURUSD

The pair is consolidating after it experienced a decline on Thursday following the ECB meeting results and the release of positive retail data in the US. It’s likely to remain today within the range of 1.1769–1.1840, but it also may lower.

The price is above the upper Bollinger band, but SMA 5 and 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 continue trading flat, but if it passes the level of 1.1760, it may go down to 1.1715.