Technical Analysis 20.03.2019

EURUSD

The pair is above the existing level in anticipation of the Fed’s final monetary policy decision. If the bank shows the intention to stop hiking interest rates, it will support the demand for risk assets and the pair. At the same time, if the regulator’s decision isn’t a clear one and reflects its intention to make decisions concerning interest rates based on the current economy situation, the pair will be put under pressure.

The price is above the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the level of 50% and is slowly moving down. Stoch are falling.

Trading recommendations:

If the pair goes below 1.1335, there’s a possibility of falling to 1.1280. At the same time, if it goes above 1.1360, it may trigger further local growth to 1.1400.