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EURUSD Technical analysis 22.10.2015

EURUSD

The uncertainty reagrding the future of stimulus program is pushing the pair down. If the decision to expand the program is positive, the pair can fall under a great pressure as it happened last month after the ECB meeting.

The pair is on the lower Bollinger band and also lower than SMA 5 and SMA 14. RSI index is under 50% level and signals the downside trend. Stoch is in the oversold zone.

Trading recommendations: After 1.1305 level is passed the price will likely fall till 1.1225.

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