Technical overview 23.04.18

EURUSD

The pair is still under pressure as the investors no longer expect the ECB to stop economic stimulus measures before the end of the year due to the slower economic growth and the eurozone’s inflation pressure. The bank is believed to make the decision to wait at the meeting this week.

The price below the middle Bollinger line, below SMA 5, but above SMA 14. RSI is above the oversold zone. Stoch indicate the weakening of growth.

Trading recommendations:

The pair may attempt returning to 1.2285. If this mark isn’t passed, the pair should be sold with a target of 1.2200.