Technical analysis 24.12.18

EURUSD

The pair is trading within the range of 1.1270–1.1490. It’s supported by some uncertainty concerning the Brexit situation, the reached compromise in the Italian budget issue and by the ECB’s decision to end quantitative easing this year. However, the pair’s still under pressure due to the Fed’s intention to continue raising interest rates that results in the price’s movement within the range.

The price us below the middle Bollinger band, on the level of SMA 5, but below SMA 14. RSI is below the level of 50% and is reversing downwards, Stoch have left the oversold territory.

Trading recommendations:

If the pair doesn’t go above 1.1400, it may continue down to 1.1270.