EURUSD technical analysis 11.12.2019

The pair shows a local reversal in anticipation of the Fed’s meeting results which can give impetus to the limited growth of the dollar. Selling the pair is not unadvisable.

The price is above the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is above the 50% level and reverses down. Stoch give a pair sell signal.

Trading recommendations:

It’s possible to sell the pair since it already passes the level of 1.1085 with a local target of 1.1050, and then, following the results of the ECB meeting, expect it to drop to 1.0990.