21.02.2020
The pair is consolidating above 1.0780 in anticipation of data on production indicators and consumer inflation in Germany and the eurozone, as well as in the US. If the overall values are weaker than expected in Germany and the eurozone, and at least at the predicted level in the US, the pair will be likely to resume decline.
The price is below the middle line of the Bollinger indicator, at SMA 5 and below SMA 14. RSI is below the 50% level and moves horizontally. Stoch are uninformative.
Trading recommendations:
Sell the pair after it crosses the level of 1.0780 with a likely target of 1.0720 or even below 1.0700.
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