Technical Analysis 21.11.2018

EURUSD

The pair is recovering after yesterday’s drop caused by the decreasing demand for risk assets on the world markets. This recovery resembles a partial profit taking against the backdrop of the American stock futures growth. It’s safe to assume that this growth will prove temporary due to lower expectations of the US-China trade war resolving in a compromise.

The price is below the middle Bollinger band, above SMA 5, but still below SMA 14. RSI is crossing the level of 50% while moving upwards. Soch have reversed in the oversold zone.

Trading recommendations:

Sell the pair as it’s growing, approximately from 1.1415 with a possible target of 1.1300.