Forex: technical overview 18.01.18

EURUSD

The pair is trading at the support level of 1.2200. The market is taking a break while waiting for the new economic statistics data. The consolidation is likely to last until the end of the current week, but at the same time, the pair may also decrease.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is at the level of 50%. Stochastic oscillators are moving down.

Trading recommendations:

If the pair doesn’t gain a foothold above the level of 1.2200, it’s likely to go down to 1.2115 or even further down to 1.2100.