EURUSD Technical analysis 12.11.2015

EURUSD

The pair consolidates awaiting US PIP (YoY) data release which is expected to be quite strong. If the prognosis proves to be true, then most likely, the pair will keep lowering its positions because of the monetary policy differences of ECB and FRS which are not in Euro's favour.

The price is on the middle Bollinger band, on the level on SMA5 and SMA14. RSI index is under 50% level and turning down. Stoch also signal growth weakening and probability of downside movement.

Trading recommendations: Sell the pair if 1.0700 level is passed with local targets of 1.0650 and 1.0515