08.11.2019
The pair continues to form the double top reversal pattern. The prospect of stronger USD due to the divergence of monetary policies between the Fed and the ECB will exert a short-term pressure on the pair.
The price is below the middle Bollinger band, at SMA 5, but below SMA 14. RSI is located above the oversold zone line and moves horizontally. Stoch are also above this zone and uninformative.
Trading recommendations:
Sell the pair after it crosses the level of 1.1040 with the price dropping to 1.1000.
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