EURUSD Technical Analysis 22.12.2016

EURUSD

Our prognosis regarding the pair remains unchanged. It will probably keep consolidating withing the 1.0350-1.0480 range amid the low pre-holiday volumes. Seems like despite the partial profit taking, investors are not willing to part with the US currency.

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI is rising and crossing the 50% level. Stoch are also rising.

Trading recommendations: We consider it rational to sell the pair while it is rising starting for the upper border of the range (1.0480) with a probable target of 1.0350 prior to the New Year.