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EURUSD Technical analysis 05-02-2016‏ by Grand Capital

The pair is traded lower than 1.1200 level prior to the US Non Farm data. It can be assumed that if the numbers would be better than forecasted 190K it will put USD under pressure and the pair, despite being locally overbought, can continue rising.

The price is on the upper Bollinger band, lower than SMA5 but higher than SMA14. RSI resides in the overbought zone and moving horizontally. Stoch came out of the overbought zone and keep falling.

Trading recommendations : Breaching of 1.1200 level can lead to a local rise up to 1.1300.

 

Source: https://grandcapital.net

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