EURUSD Technical Analysis 20.07.2017

EURUSD

The pair is consolidating prior to the release of the ECB meeting results. It can be assumed that if the ECB statement doesn't mention a definite plan to cut the stimulus measures next year and if it becomes clear that they don't plan on gradually increasing the interest rates, the pair will continue falling amid disappointment. 

The price is lower than the middle Bollinger band, lower than SMA 5 and SMA14. RSI resides above the 50% level and falling. Stoch reside above the oversold zone.

 
Trading recommendations:
If the pair breaches the support level of 1.1490, there is a possibility that it will continue falling to 1.1380 and possibly even to 1.1315.