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    EURUSD Technical analysis 5.11.15

    EURUSD

    The fell under a lot of pressure after the Janet L. Yellen speech that took place yesterday. During the speech it was suggested that the rates hike may happen in December. New stimulus from ECB are also expected. 

    The price is near the lower Bollinger band, lower than SMA5 and SMA14. RSI index is entering the oversold zone again, as well as Stoch.

    Trading recommendations: Sell the pair if 1.0840 level is passed with expected price further fall to1.0800 and then to 1.0700 levels.


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