Technical analysis 06.07.18

EURUSD

The pair is trading below the level of 1.1720 as the US employment market data is expected to be released. If they are noticeably favorable, a limited pressure for the pair is possible. At the same tine, if they are significantly worse than predicted, the pair may continue moving in uptrend.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is moving horizontally. Stoch are also not informative.

Trading recommendations:

If the US data is not favorable and the price passes 1.1720, there’s a chance of a local growth up to 1.1800. However, in case of favorable news, the pair will go down to 1.1620 after passing 1.1680.