Technical Analysis 08.05.18

EURUSD

The pair is consolidating above the 1.1900 level. Investors keep analyzing the probability of ECB deciding to cut stimulus measures in June. It is expected that the pair will remain within the range before then, but its fall may be accelerated by the rising probability of the interest rate hike by Fed. during the June meeting. The price resides below than the lower Bollinger band, lower than EМА 5 and ЕМА 13. RSI is moving horizontally. Stoch reversed upwards.

Trading recommendations: If the pair manages to breach the 1.1900 level, it is may suffer a local fall to 1.1800.