Forex: technical overview 19.02.18

EURUSD

Last Friday the pair sank against the backdrop of profit taking and today may remain within the existing range while the important economic data in the eurozone is expected to be released later this week.

The price is below the middle line of the borders of Bolinger bands, below EMA 5 and EMA 13. RSI is passing the level of 50% but is still moving horizontally. Stochastic oscillators are in the oversold zone.

Trading recommendations:

The pair may remain in the range of 1.2410–1.2515, but if it goes below 1.2400, there’s a possibility of a local fall down to 1.2335.