18.12.2019
The pair is consolidating above 1.1130 in anticipation of today's speech by Christine Lagarde and the publication of the eurozone consumer inflation data. If the head of the ECB once again speaks problems in the euro area and stimulus measures, while the inflation data is weaker than predicted, it may put pressure on the pair.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. The moving averages are intersecting and suggest selling. RSI is at 50% and moves horizontally. Stoch are also moving downwards.
Trading recommendations:
Sell the pair after it crosses 1.1130 with a likely local target of 1.1050.
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