Technical analysis 28.09.18

EURUSD

The pair is under pressure as, on one hand, the Fed is expected to, unlike the world’s other central banks, keep raising the interest rates, while on the other hand, the world tension supports the USD as a safe heaven currency.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is entering the oversold zone. Stoch are already there.

Trading recommendations:

If the pair goes below 1.1620 due to the positive US inflation data, it may continue its local fall to 1.1656. At the same time, if the data is not favorable, it may revert to 1.1700.