Technical analysis 12.11.2018

EURUSD

The pair is trading below 1.1340 amid the stronger USD positions and the pending GDP data in Germany and eurozone for the third quarter. It’s expected to indicate decline against the backdrop of the eurozone’s stagnation, which would affect the single currency rate negatively.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is entering the oversold zone. Stoch are reversing downwards.

Trading recommendations:

If the pair passes 1.1300, it will plunge further to 1.1250.