Technical analysis 26.07.18

EURUSD

The pair is trading below 1.1750 as the results of the ECB meeting are expected to be revealed. If the ECB underlines the concern over the eurozone’s economy in light of the trade wars, it may put the pair under pressure. At the same time, optimism caused by the result of Wednesday’s US-EU talks may push the pair upwards.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is moving horizontally. Stoch are in the overbought zone and are trying to reverse downwards.

Trading recommendations:

Sell the pair after it goes below 1.1720 with a possible target of 1.1670. At the same time, if it rises above 1.1750, it may experience a limited growth to 1.1785.