EURUSD Technical analysis 26.10.2015

EURUSD

The pair is moving up from the 1.1000 support level it reached after the steep fall at the end of last week, which was caused by the expectations about ECB stimulus program expansion in December.

The price is lower than the middle Bollinger band, but higher than SMA 5 and at the same time, lower than SMA 14. RSI index is in oversold zone and is turning upwards. Stoch is leaving the oversold zone.

Trading recommendations: The pair may either reach the 1.1085 level or go further to 1.1045 before it goes down reaching 1.1000 and then 1.0925 levels.