Forex: technical overview 21.03.18

EURUSD

The pair is regaining its previous positions following this Tuesday’s drop, and now it’s swinging before the Fed’s monetary policy meeting. A local recovery is likely, but if the meeting’s results prove positive for the USD, the pair will be expected to weaken.

The price is below the middle line of the borders of Bollinger bands, above EMA 5, but below EMA 13. RSI is below the level of 50% and is growing. Stoch are leaving the oversold zone.

Trading recommendations:

The pair may return to the range of 1.2290–1.2300, but if the Fed’s meeting results in a more strict monetary policy, the price may fall down to 1.2200.