EURUSD Technical analysis 05.10.17

EURUSD

The pair is consolidating in a very narrow range as it's still unclear who will be appointed as the chair of the Federal Reserve by Donald Trump and will the ECB continue to stimulate the economy next year. The situation on Catalonia, which is determined to secede from Spain after all, also remains a negative factor for the euro.

The price is above the middle Bollinger band, above SМА 5 and SMA 14. RSI is moving horizontally. Stoch are trying to move up.

Trading recommendations:

The pair is apparently going to remain in the range of 1.1715-1.1825 until the United States employment data is released this Friday. However, in general, we still think that the pair has the potential to go down to 1.1655.

Author: Semyon Kamensky