Technical Analysis 23.08.18

EURUSD

The pair is reversing down as a result of the publication of the protocol where the Fed. made it clear that the interest rate increase is possible in September. The ECB monetary policy meeting protocol may cause another negative effect on the pair if it shows that the European Bank is reluctant to change its course. 

The price is higher than the middle Bollinger band but lower than SMA 5 and SMA 14. RSI is lowering but signals the weakening of the fall movement. Stoch are falling.

Trading recommendations: 

If the price falls below1.1550, it may cause a further fall down to 1.1490.