Technical Analysis 14.11.2018

EURUSD

The pair is trading below 1.1300 following yesterday’s growth triggered by the reports of some positive developments in Brexit deal talks and by weaker USD rate due to the ongoing government conflict in the US and the start of Beijing-Washington trade talks. The pair may reverse downwards if today’s GBP data in Germany and the eurozone turn out to be weak.

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

Trading recommendations:

If the pair doesn’t pass 1.1300 and take hold above this level, it may drop to 1.1220.