Technical Analysis 15.05.19

EURUSD

The pair continues to balance in the wake of the uncertainty factor of prospects for the world economy's state, as well as the Fed's position on monetary policy, which continue to dominate the markets.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. The RSI is below the level of 50% and moves horizontally. Stoch make an attempt to turn around in the oversold zone.

Trading recommendations:

If the price holds above the level of 1.1200, there is a possibility to continue the formation of the figure of the continuation of the “rising flag” trend. In this case, the pair can grow to 1.1265. But if the support of 1.1200 does not stand, it's probable that the price will fall to 1.1125 on the implementation of this figure.