Technical analysis 04.10.18

EURUSD

The pair is under pressure amid the escalating Greek debt crisis, while the US and China enter the new level of negative relations which that are not only of trade, but also of geopolitical nature.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is trying to reverse downwards. Stoch are also in the oversold zone.

Trading recommendations:

The pair may recover to 1.1515 due to the profit taking, but we advise selling it from this level with a target level of 1.1400.