EURUSD Technical Analysis 12.10.2016

EURUSD

The pair found support on the 1.1040 level after the recent fall caused by the increased probability of the US interest rate hike in December. The fall can continue if the Septempber Fed meeting minutes also indicate the interest rate hike by the end of the year.

The price is lower than the middle Bollinger band, lower than SMA5 and SMA14. RSI resides in the oversold zone, as well as Stoch.
 

Trading recommendations: Sell the pair if the Fed's meeting minutes are positive and the 1.1040 level is breached with a probable target of 1.0950.