24.04.2020
The pair remains under pressure as the EU announces a stimulus package to support the economy. It turned out to be smaller than expected—1 trillion euros instead of 2 trillion. Moreover, the meeting didn’t clarify the details of the deal, which will weaken the pair in the short term.
Technical side:
The price is at the level of the lower line of the Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch entered the oversold zone.
Trading recommendations:
Sell the pair after it reaches yesterday’s target of 1.0770, with its likely drop first to 1.0715, and then to 1.0660.
EURUSD rate online: monitor the movement of the pair in real time.
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