12.02.2020
The pair is trading at 1.0905. It’s expected to resume falling amid the weaker EU economy and the ECB’s vague monetary policy position. USD is consolidating against EUR primarily thanks to the weakness of the latter, and not due to its intrinsic strength.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is on the level of the oversold zone. Stoch have reversed downwards.
Trading recommendations:
Sell the pair with a possible target of 1.0850 after it goes below 1.0905.
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