Forex: technical overview 02.03.18

EURUSD

The pair is trading above 1.2250 as the profitability of the US government bonds fell dramatically yesterday. However, today the bonds’ prices are growing, which may support the USD together with the high expectations concerning the Fed’s rates.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI has reversed downwards and is testing the level of 50%. Stochastic oscillators are reversing in the overbought zone.

Trading recommendations:

If the pair falls below 1.2255, it may go further down to 1.2150 and then possibly to 1.2065.