Technical analysis 17.05.18

EURUSD

The pair is trading above the support line of 1.1800. It’s still under pressure as the monetary policies of the ECB and the Fed are now expected to be divergent. While the American central bank is thought to continue raising the interest rates, the European regulator will likely pause this process.

The price is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is reversing downwards. Stochastic oscillators indicate a weaker growth.

Trading recommendations:

Sell the pair after it sinks below 1.1800 with a possible further decline to 1.1700.