Forex: technical overview 27.03.18

EURUSD

The pair is supported by the lack of tension surrounding the trade war between the US and China. If nothing scares the investors the pair has the potential to grow while forming the descending triangle pattern.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI is in the overbought zone. Stoch are also already there.

Trading recommendations:

If the pair doesn’t fall below 1.2440, it may still go up to 1.2500. At the same time, if it does fall below this mark, it will go further down to 1.2400 as it’s overbought locally.