09.07.2019
EURUSD
The pair is consolidating below 1.1215 in anticipation of the Fed’s Chair Jerome Powell’s speech at the Senate Banking Committee. If he doesn’t hint at a possible start of interest reduction measures as early as this year, this will support the USD rate.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is moving horizontally along the oversold territory line. Stoch aren’t informative.
Trading recommendations:
Sell the pair as it’s likely to drop to 1.1180 and then to 1.11225.
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