17.01.2020
The pair is trading in a short-term uptrend above the level of 110.10 due to the strong US economy data published on Thursday. The pair still has the potential for further growth if it stays above 109.80.
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is located in the overbought zone and is growing. Stoch left the overbought zone and are declining.
Trading recommendations:
TThe pair may correct down to 109.80. Its highly likely to go further up to 111.00 from this level (109.80) if it holds above 110.10.
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