EURUSD Technical Analysis 06.03.2017

EURUSD

The pair is correcting after a strong surge, that happened amid the speculations over ECB's stimulus reduction. However, we don't expect it to happen this week. On the other hand, positive US employment data will support the US dollar, pushing the pair down.

The quote is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides under overbought level and going down. Stoch are leaving the overbought zone.

Trading recommendations:
If the price falls lower than 1.0595 a further decline to 1.0500 can be expected.