12.05.2020
The pair is turning up, remaining in a wide range of 1.0750–1.1000 amid the risk of a new wave of coronavirus pandemic. Also, investors seem hesitant to actively buy the dollar ahead of Jerome Powell’s speech.
Technical side:
The price is above the middle Bollinger band, above SMA 5, but still below SMA 14. RSI is below the 50% level and has turned up. Stoch are growing after leaving the oversold zone.
Trading recommendations:
If the pair consolidates above 1.0820, it will rise locally to 1.0875 with a likely further growth to 1.1000.
The EURUSD rate online: monitor the movement of the pair in real time.
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