Technical analysis 12.09.2019

EURUSD

Today, the market focuses on the ECB's monetary policy decision. If the bank does not take any measures to support the European economy or if the measures are minor, the euro will be supported. Conversely, if broad stimulus measures are taken, the pair will be expected to drop.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the level of 50% and growing smoothly. Stoch are also growing.

Trade recommendations:

Wait for the ECB decision. A price above 1.1040 may lead to an increase of the pair to 1.1115. Conversely, the pair's decline below the level of 1.0985 may become the basis for its drop to 1.0930.