Technical analysis 10.07.18

EURUSD

The pair is trading below 1.1745 as the German ZEW economic sentiment index data is expected to be released. It is expected to indicate decline. It may put the pair under pressure against the background of the UK government crisis over Brexit.

The price is above the upper Bollinger band, below SMA 5, but still above SMA 14. RSI is above the level of 50% and is indicating the likelihood of a fall. Stoch are moving down.

Trading recommendations:

If the data from Germany turns out to be weaker, the pair may experience a local fall to 1.1685.