10.12.2019
The pair is consolidating in a narrow range of 1.1050-1.1085 in anticipation of the final decisions of the Fed and the ECB on monetary policies. The dollar is more likely to take stronger positions than the euro. The dollar will receive support given the high probability of maintaining interest rates by the Fed and the continuation of the ECB's soft policy.
The price is below the middle Bollinger band, between SMA 5 and SMA 14. RSI is below 50% and moves horizontally. Stoch are not informative.
Trading recommendations:
Sell the pair after its decline below 1.1050 with a local target of 1.0990.
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