Technical analysis 03.05.18

EURUSD

The pair remains under a great deal of pressure as it is becoming more evident that ECB will not be changing the monetary policy this year. Strengthening of the US economy and the interest rate hike only add to the situation.

The price resides below the lower line of the Bollinger bands, higher than EMA 5, but lower than EMA 13. RSI is reversing downwards again. Stoch are non-informative.

Trading recommendations: 

The pair may return to 1.2015. However, if today's EU consumer inflation data turns out to be weak, a negative effect will take place, pushing the pair down to 1.1900-15.