Forex: technical overview 04.04.18

EURUSD

The pair is consolidating above the mark of 1.2255. There’s a strong probability of a local growth prompted by the eurozone consumer inflation news if they are favorable for the euro. However, it may fall if the figures turn out to be worse than predicted, and in case of a strong ADP employment report in the US.

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% and is going down. Stoch are reversing upwards.

Trading recommendations:

If the price passes the level of 1.2300, the pair may experience a local growth up to 1.2350–55. At the same time, if it falls below 1.2255, it may go further down to 1.2200.