EURUSD technical analysis

EURUSD

Today, the market is focused on data on the number of new jobs from ADP. They are expected to grow by 600,000. If the indicator value turns out to be higher than expected, this may lead to the local growth of the pair. At the same time, if it’s less, then, the pair will correct down. Also, the dynamics of the pair will be influenced by the publication of consumer inflation data in the eurozone.

Technical side:
The price is located below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the level of 50% and moves horizontally. Stoch are still growing.
EURUSD rate online: monitor the price movement in real time.

Trading idea:
The stabilization of inflation in the eurozone and positive data from ADP will lead to an increase to 1.200. The reverse situation will put pressure on it and the oca may drop to 1.1845.