Technical analysis 15.05.18

EURUSD

The pair is trading above the support level of 1.1900–05. If the eurozone GDP data is weaker than predicted, the pair will be expected to go down, and even further down if the US data is positive. At the same time, if the GDP figures are strong, the pair will be able to return to the upward trend.

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

Trading recommendations:

Sell the pair when it’s down below 1..900–05 with a possible target of 1.1835. However, in case of favorable news, it may go up to 1.2000.