Forex: technical overview 27.02.18

EURUSD

The pair is consolidating within the range of 1.2270–1.2355. If Jerome Powell’s monetary policy statements turn out to be hawkish, then a local decline of the price should be expected.

The price is above the middle Bollinger band, above EMA 5 and EMA 13. RSI is on the level of 50%. Stochastic oscillators are growing.

Trading recommendations:

The dollar is to receive support and go down to 1.2270 and then to 1.2200 if Powell’s statements concerning the continuation of Yellen’s policy turn out ti be hawkish.