Technical analysis 16.05.18

EURUSD

The pair is trading above the support line of 1.1825 after yesterday’s fall against the backdrop of the USD’s sharp growth on the exchange markets that was triggered by the steep increase in the US government bonds yield.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is attempting to reverse upwards. Stochastic oscillators are in the oversold zone and aren’t informative.

Trading recommendations:

Sell the pair after it’s gone below 1.2825 with a possible further decline to 1.1735.