Technical analysis 31.07.18

EURUSD

The pair remains within the range of 1.1585–1.1745 as the important eurozone news are expected to be released, as well as the consumer inflation data, GDP, employment, the Fed’s rulings on monetary policy and unemployment in the US. At the same time, if the figures are worse than predicted, a local decline would be expected.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is slowly growing. Stoch are in the overbought zone and aren’t informative.

Trading recommendations:

If the price falls below 1.1700, it may go further down to 1.1625. At the same time, if it goes above 1.1720, there’s a chance of a local growth up to 1.1780.