Technical analysis 10.10.18

EURUSD

The pair is trading above the level of 1.1500. It received local support due to the partial profit taking amid the closing of short positions. The pair may resume its limited recovery or reverse downwards again.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is passing the level of 50%. Stoch have entered the overbought zone.

Trading recommendations:

If the pair passes 1.1520, it may grow further up to 1.1560. At the same time, if it goes below 1.1500, it may resume its fall and move down to 1.1430.