21.11.2019
The pair is trading in the range 1.1055-1.1085 in anticipation of the minutes of the latest Fed’s monetary policy meeting, along with a speech by the ECB head Christine Lagarde to be delivered this Friday at the economic forum in Frankfurt. Expect the pair to move in this range.
The price is above the middle line Bollinger indicator, at the level of SMA 5 and SMA 14. RSI is located above the level of 50% and gradually decreases. Stoch demonstrate the probability of a price reversal.
Trading recommendations:
The ECB meeting minutes may bring the price down to 1.1055 with a likely further consolidation in the range of 1.1055–1.1085.
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