Technical analysis 23.08.2019

EURUSD

The pair fell out of the range of 1.1070-1.1110 waiting for the J. Powell's performance in Jackson hole. If he signals about the continuation of the rate reduction cycle, the pair may grow locally. At the same time, the absence of such a signal from the Fed leader will lead to the continuation of its drop.

The price is below the middle line Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and gradually decreases. Stoch make an attempt to turn down.

Trading recommendations:

Wait for Powell's speech. On the negative for the dollar, buy a pair with a likely future goal of 1.1160. On the positive side, on the contrary, sell with a possible price drop to 1.1025.