Technical analysis 07.06.2018

EURUSD

The pair is above the level of 1.1800. It’s going up as the ECB is expected to not only to abandon the economic stimulus measures this September but to start raising the interest rates next year, based on this May’s strong consumer inflation data and the stable growth of the economies, as shown by the GDP data.

The price is above the middle line of the borders of Bollinger bands, above EMA 5 and EMA 13. RSI is ion the overbought zone. Stochastic oscillators are also already there.

Trading recommendations:

The price may correct to 1.1800 but if it stays there, a growth up to 1.1900 and then to 1.1950 is possible.