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Grand Capital

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EURUSD Technical analysis 03.12.2015

EURUSD

ECB decision to expand stimulus program in full: the interest rate on deposits by commercial banks cut, increase in the amount of government bonds purchised every month and quantative easing program extension will puch the pair to this year's minimum level of 1.0460. 

The price is higher than the upper Bollindger band, lower than SMA5 and SMA14. RSI in below 50% level. Stoch turned downwards.

Trading recommendations: Sell the pair on the wake of ECB stilulus program decision announcement with local target of 1.0555. Further fall to 1.0515 is expected.



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