05.11.2019
The pair remains in the range of 1.1070-1.1175. Yesterday's speech by the new head of the ECB Christine Lagarde disappointed investors, as she did not mention the bank’s monetary policy prospects. The situation is still up in the air due to the continuing disagreements within the bank over the need for further easing of the monetary policy.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located below the level of 50% and moves horizontally. Stoch are out of the oversold zone.
Trading recommendations:
Sell the pair after it crosses the level of 1.1120 with a local target of 1.1070.
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