Technical analysis 09.07.18

EURUSD

The pair is trading above 1.1745 and it’s supported by expectations of the EU and the US reaching the tariff agreement. At the same time, the trade war factor is sill there and today’s speech of Mario Draghi, the president of the ECB, may again remind investors of the regulator’s careful attitude and it may put Euro under pressure.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch are also entering the overbought territory.

Trading recommendations:

If the price passes 1.1745, there’s a possibility of a local fall down to 1.1685.