Forex: technical overview 06.04.18

EURUSD

The pair continues to consolidate within the existing range as the news from Germany and the eurozone indicate weak figures. Also, the trade war between the US and China mфy have a negative impact on the growth of the world economy. If today’s US employment data turns out to be strong, a local decline of the price is possible.

The pair 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 moving down. Stochastic oscillators are reversing downwards.

Trading recommendations:

The pair may go down to 1.2200 and then to 1.2165 if the news are favorable for the USD.