EURUSD Technical Analysis 01.02.2017

EURUSD

The pair is correcting downwards, staying within the short term upward trend. Its growth is restrained by the lack of fresh positive news on the elections in France. The fall doesn't happen because of the fact that investors are still waiting for the US Congress vote on the future of Obamacare program.

The price is lower than the middle Bollinger band, lower than SMA5 and SMA14. RSI resides on the 50% level and falling. Stoch are non-informative.

Trading recommendations:

If the pair stays below the 1.0775 level, the price may continue the gradual fall to 1.0725.