30.04.2020
The pair is rising amid the growing demand for risk assets in anticipation of today’s ECB monetary policy meeting. It’s not expected to result in a decision to extend the stimulus measures. This would be positive for the currency, which is ahead of the dollar in this regard. Positive news on the coronavirus pandemic in Italy and Spain serve as an additional stimulus for the growth.
Technical side:
The price is on the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and moving horizontally. Stoch are showing a local reversal.
Trading recommendations:
Buy the pair after it goes above 1.0885 with a probable target of 1.0985.
The EURUSD rate online: monitor the movement of the pair in real time.
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