Technical analysis 19.12.18

EURUSD

The pair is in uptrend as the Fed is expected to announce its decision concerning the pause in the interest rates hike in early 2019. The pair may receive support if rates aren’t raised today. At the same time, if the current monetary policy remains unchanged, the dollar will receive support and the pair may be put under significant pressure.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is slowly growing. Stoch have reversed upwards.

Trading recommendations:

The pair may drop to the lower border of the current range, 1.1265 following the favorable USD news. In the opposite scenario, it will rise to 1.1460.