FOREX: TECHNICAL PERSPECTIVE 29.12.17 г.

EURUSD

The pair is trading at the local maximum due to the investors' negative attitude towards the US dollar which is caused by the fact that all the USD supporting factors have already been in action. Those are the interest rate increase and the tax reform. USD is literally on the edge as Jerome Powell taking his position as the new head of the Fed.

The price resides higher than the middle Bollinger band, lower than the SMA5 but higher than SMA14. RSI resides under the overbought zone. Stoch are leaving the zone.

Trading recommendations: 

If the pair falls lower than 1.1935, a possible fall to 1.1900 can be expected.