EURUSD Technical Analysis 27.01.2016 by GrandCapital
The pair remains under pressure amid the recent news from the US regarding the tax reform, previously mentioned by D. Trump. From the technical perspective the pair has breached the support level and may keep falling if the present mood stays and the US GDP data (to be published today) is positive.
The price is on the lower Bollinger band, lower than SMA5 and SMA 14. RSI resides lower than 50% level and keeps falling. Stoch are non-informative.
Trading recommendations: The the pair falls lower than 1.0650-55, there is a possibility that it will touch 1.0625 and 1.0580 after, which will correspond with 38% and 50% Fibonacci Retracement.