Technical analysis 31.07.2019

EURUSD

The pair is consolidating at 1.1155 in anticipation of the Fed's final decision on monetary policy. The pair can continue to climb if the Fed makes it clear that the lowering of interest rates may continue.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. The moving averages suggest buying. RSI is above the level of 50% and moves horizontally. Stoch are below the overbought zone and are reversing downwards.

Trading recommendations:

The Fed’s clear indication that the interest rates reduction could turn into a cycle will cause a local growth up to 1.1220 with the prospect of further increase.