Technical analysis 26.10.18

EURUSD

The pair is trading below 1.1380. It’s under pressure after the ECB meeting indicated that the bank is going to be extremely careful in its monetary policy, which points to its softer variant. Another source of pressure for the pair is the USD getting stronger as a safe haven currency.

The price is below the middle Bollinger band, on the level of SMA 5m but below SMA 14. RSI is above the oversold territory and is trying to grow. Stoch are still in the oversold zone.

Trading recommendations:

Sell the pair at its growth from 1.1400, or after it goes below 1.1360 with a possible local target of 1.1300.