EURUSD Technical Analysis 20.03.2017

EURUSD

The pair is trading under 1.0780 level, on  the still remaining hopes that Macron will win the election in France, as it may lower the risks of eurosceptics taking power in Europe, which may push the ECB to reduce stimuli, which, in its turn, will support the Euro. 

The price is higher than the middle Bollinger band, higher than SMA5 and SMA14. RSI resides under the overbought zone and moving horizontally. Stoch are rising.   

Trading recommendations: It can be assumed that if the price doesn't go higher than 1.0780, the probability of its rise up to 1.0820 will decline and it can locally reverse downward and correct to 1.0670.