Technical analysis 31.10.18

EURUSD

The pair is trading on the level of 1.1340 following the release of data indicating a slowdown of the European economy, and the announcement of the German chancellor Angela Merkel that she would not seek reelection as leader of her party. 

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and is trying to grow. Stoch are reversing in the oversold territory.

Trading recommendations:

If the pair takes hold below 1.1340, there’s a chance of its going further down to 1.1300 and then ti 1.1250.