EURUSD Technical Analysis 16.08.2016

16.08.2016

Market Review

EURUSD

The pair has breached the resistance level of 1.1230. If the US CPI data turns out to be positive, the price can return to the 1.1070-1.1230 range.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI is right under the overbought zone. Stoch are rising.

Trading recommendation: Sell the pair while it is falling lower than 1.1230 level amid the strong data from the US with a probable target of 1.1070.

Author: admin

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