Technical analysis 29.10.18

EURUSD

The pair is trading above 1.1380. Today, the market is awaiting the publication of the US inflation data. If they confirm the inflation growth in the country, it may put pressure on the pair.

The price is below the middle Bollinger band, on the level of SMA 5, but above SMA 14. RSI is below the level of 50% and is moving horizontally. Stoch are reversing downwards.

Trading recommendations:

Sell the pair after it’s gone below 1.1380 with a possible local target of 1.1300.