Technical analysis EURUSD 29.10.2015

EURUSD

The pair consolidates awaiting for the U.S. GDP report. Weak numbers can lead to continuous upward correction which will take the pair to 1.1010 level. But if the price stays lower than 1.1000, it is quite possible that the downside movement will continue, despite the local oversold.

The price is lower than the middle Bollinger band, lower than SMA5 and SMA14. RSI index is leaving the oversold zone and growing. Stoch are turning upwards.

Trading recommendations: Sell the pair while it is rising if it stays higher than 1.1000 level with local targets of 1.0900 and 1.0845-50.