EURUSD Technical Analysis 26.05.2016

EURUSD

The pair has corrected to the 1.1180 level unfluenced by the news that the agreement on the Greek bebt has been reached and additional aid from the IMF will be received. However, a strong US economy data which will come later today can push the pair down.

The pair is lower than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides under 50% level and is turning downwards. Stoch are turning inside the overbought zone.

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Trading recommendations: Sell the pair if it surges higher than 1.1180 level with a local target of 1.1130, keeping in mind that it can continue falling abd reach 1.1050-55 levels.