16.10.2019
The pair is trading below 108.90 amid the positive market sentiment as the reports of the US companies indicate the lack of a strong negative impact of the US-China trade war on the profits, and the conflict itself is generally considered to have minimal influence on the US economy.
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is at the border of overbought zone. Stoch are leaving this zone while heading downwards.
Trading recommendations:
The pair may correct to 108.45. If the price stays there, it may reverse upwards. Buy the pair as it rebounds or after it goes above 108.90 with a target of 109.30 or 109.85.
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