Forex: Technical overview 12.02.18

EURUSD

The pair is consolidating below the level of 1.2295–1.2300 as the economic statistics data from the US and the eurozone is expected to be released soon. The direction that the US stock market trading takes will also influence today’s tendencies on the markets.

The price is below the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI is below the level of 50% and is reversing downwards. Stochastic oscillators are indicating a weakening of growth.

Trading recommendations:

If the pair doesn’t go above the level of 1.2295, it may fall down to 1.2160–65.