Technical analysis 06.06.19

EURUSD

The pair is trading above the level of 1.1220 in anticipation of the ECB monetary policy meeting. The pair is likely to be put under pressure if Mario Draghi hints at a possible extension of the economic stimulus measures.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is close to the level of 50%, crossing it would mean a signal to sell. Stoch are in the oversold territory and aren’t informative.

Trading recommendations:

Sell the pair if it goes below 1.1220 with a target of 1.1175.