EURUSD Technical Analysis 18.01.17 by GrandCapital
The pair may come under pressure if today’s consumer inflation figures turn out to be not as bad as expected. It is assumed that consumer prices index will go up to 2,2% on a year-over-year basis, which is higher than 2,0% level that was established by the FED. In December, the growth should be 0,3%. Sharp inflation growth will cause the Fed raising its rates probably as early as February, or in March of the current year, which will reflect positively on USD.
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is declining, Stoch are falling.
If the price falls below 1,0680 level after the US inflation figures are published, the pair may consequently lower down to 1,0600 or even to 1,0580.