Technical analysis EURUSD 28.10.2015

EURUSD

The pair consolidates awaiting the interest rate announcement from Fed. It is expected that the rates will remain at the same level which can support the pair and lead to a local raise. In this case it is better to sell the pair as the ECB stimulus program expansion is being expected in December. 

The price is lower than the middle Bollinger band, but higher than SMA 5 and SMA 14. RSI index is above the overbought zone and rising slowly. Stoch is taking a turn upwards.

Trading recommendations: It is better to buy the pair when it is announced that the interest rate will remain unchanged with local target of 1.1085 and then 1.1145.