Technical analysis 05.07.18

EURUSD

The pair is trading above 1.1690, having received support after the release of positive economic statistics data from Germany. But it may change its direction and get under pressure if today’s ADP data and the Fed’s monetary policy meeting minutes are positive for the USD.

The price is above the upper Bollinger line, above SMA 5 and SMA 14. RSI is above the level of 50% and is growing. Stoch are also moving upwards.

Trading recommendations:

If the price passes 1.1690 after the positive data from the US, it may go further down to 1.1600.