EURUSD Technical Analysis 15.08.2016

EURUSD

The weakness of the US dollar is pushing the pair up, but the high probability of stimulus expansion by ECB acts as a restraining factor here. It is most probable that the price will remain inside the 1.1135-1.1225 range until the news from the ECB is published. If ECB announces stimulus expansion, the pair can fall to 1.1070.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides higher than 50% level and moving horizontally. Stoch are falling.

Trading recommendations: Sell the pair while it is rising from 1.1225  with approximate target of 1.1135 and considering a possible fall to 1.1070, as the probability of ECB expanding stimulus is pretty high.