13.02.2020
The pair is above 1.0860. It is under pressure due to a prospect of a softer monetary policy by the ECB. The pair may continue to drop today if Germany’s consumer inflation data shows no growth, while the Amerca’s indicator increases.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located in the oversold zone and moves horizontally. Stoch are in the oversold zone and uninformative.
Trading recommendations:
Sell the pair with a likely target of 1.0800 after it drops below 1.0860.
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