Technical overview 24.04.18

EURUSD

The pair is in downtrend above the level of 1.2200 as the ECB monetary policy meeting results are expected to be released. The pair may correct upwards, but it’s most likely to continue falling following the meeting’s results.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is in the oversold territory. Stochastic oscillators are reversing upwards.

Trading recommendations:

If the pair doesn’t pass 1.2200, there’s a chance of a local growth up to 1.2245. At the same time, if it goes below this mark, it may go further down to 1.2150.