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EURUSD Technical Analysis 08.12.2016

EURUSD

The pair has stopped rising awaiting for the ECB decision on the monetary policy. If the ECB doesn't mention the stimulus measures, it may put the pair under a local pressure.

The price is higher than the middle Bollinger band, higher than SMA 5 and SMA 14. RSI resides higher than the 50% level and turning downwards. Stoch are entering the overbought zone.

Trading recommendations: Sell the pair if the ECB announces no changes to the stimulus measures. In this case the pair may fall to 1.0700.

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