The pair consolidates below 1.3300 level as the new data on British economy is expected to be released. It's safe to assume that if ISM Services Index in the United Kingdom falls below 53.2 points, the GBP will come under pressure. If the employment data in private sector from ADP turns out to be higher than the predicted fugues (125 000), the pair may be triggered to fall.
The price is below the middle Bollinger band, above SМА 5, but still below SMA 14. RSI tries to grow. Stoch are also displaying growth.
Trading recommendations:
The pair may go up to 1.3300. If it remains on this level and the data from USA turns out to be strong, it's likely that the price will go down to 1.3155.
EURUSD Technical analysis 04.10.17
The pair is trading above 1.1715 level. It is expected that if the ADP data on the number of new work places will turn out to be higher than the predicted 125 000, the pair will keep falling.
The price is below the middle Bollinger band, below SМА 5, but above SMA 14. RSI is below 50% level and is reversing downwards. Stoch are also reversing downwards.
Trading recommendations:
The pair may go down to 1.1715. The breakout of this level will lead to the pair falling further down to 1.1620.
The pair is trading above 1.1715 level. It is expected that if the ADP data on the number of new work places will turn out to be higher than the predicted 125 000, the pair will keep falling.
The price is below the middle Bollinger band, below SМА 5, but above SMA 14. RSI is below 50% level and is reversing downwards. Stoch are also reversing downwards.
Trading recommendations:
The pair may go down to 1.1715. The breakout of this level will lead to the pair falling further down to 1.1620.
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