Forex: technical overview 22.02.18

EURUSD

The pair is under pressure as the ECB meeting minutes are expecting to be released, while the Fed’s meeting indicated the regulator’s intention to keep raising the rates and increase the number of raises if the inflation continues to grow.

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

Trading recommendations:

The pair may continue falling down to 1.2200 if the ECB meeting minutes indicate the bank’s concern over the decreased inflation pressure.