EURUSD Technical analysis 04.12.2015

EURUSD

The pair is setting a downward correction after its surge of Thursday, which was backed by ECB new stimulus decision. It can keep falling if the unemployment data from the US is better than expected and vice versa.

The price is on the upper Bollinger band, lower than SMA5, but higher than SMA14. RSI is coming out from the overbought zone. Stoch turned downwards and reside in the same zone.

Technical analysis: Sell the pair if the US data is strong with approximate target of 1.0740 ans Buy is it is worse than expected with a target of 1.1050.