Technical Analysis 26.11.2018

EURUSD

The pair is slowly recovering after Friday’s drop caused by the negative data of the industrial and service business activity index in Germany and the eurozone. It’s trading below 1.1356. The pair may reverse downwards, if today’s data from Germany and the head of ECB Mario Draghi’s statement aren’t promising.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the level of 50% and is growing. Stoch are leaving the oversold territory.

Trading recommendations:

If the pair doesn’t pass 1.1365, it may reverse downwards to 1.1300.