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Forex: technical overview 19.03.18

EURUSD

The pair sank below 1.2270 following the strengthening of the USD positions before the Fed’s monetary policy meeting, since the interest rates are expected to be raised 0.25%. The pair is likely to continue falling today.

The pair is below the middle line of the borders of Bollinger bands, below EMA 5 and EMA 13. RSI is above the oversold zone. Stoch are entering the oversold territory.

Trading recommendations:

The pair has the potential to go down before the Fed meeting if it doesn’t rise above 1.2270.

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