EURUSD Technical analysis 28.08.17

EURUSD

The pair is trading above 1.1885 level. There's a potential for further growth, despite the fact that it's locally overbought. It's supported by the USD's pervasive weakness and the hopes of ECB announcing the decision to decrease or to stop entirely the economy stimulation in 2018.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone, Stoch are also already there.

Trading recommendations:

The pair may correct to 1.1885 level and then continue its growth if it remains above the said level.