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EURUSD Technical Analysis 19.08.2016

EURUSD

The pair has grown amid the equally strong weakening of the investor interest in the US dollar. But today, quite probably, a number of long positions will be closed due to the locally overbought market being a good occasion to take profits.

The price is higher than the upper Bollinger band, higher than SMA 5 and SMA 14. RSI is in the overbought zone. Stoch are falling. 

Trading recommendations: 
Sell the pair at 1.1230 with its possible drop to 1.1250.

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