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Technical analysis 14.08.2019


The pair continues to consolidate, forming a "downward flag" trend pattern. Probably the pair will remain in it until the ECB's decision on monetary policy in early September.

The price is below the middle Bollinger band, above the SMA 5, but below 14. RSI moves horizontally along the level of 50% and uninformative. Stoch unfold upwards in the oversold zone.

Trading recommendations:

If the pair holds above 1.1160, it will continue to move in the range. It possible to buy a pair with a local target of 1.1220, and then sell it approximately from this level with its probable decrease to 1.1160.

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