04.06.2020
The pair stopped rising ahead of the ECB’s monetary policy decision, an important aspect of which is the new 750 billion euro stimulus package expected by the markets. The euro will come under pressure following the announcement due to profit taking, although it will still be able to rise in relation to the dollar.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is leaving the overbought zone and suggests selling. Stoch are steadily declining.
Trading recommendations:
Sell the pair with a local target of 1.1140 after the price crosses 1.1200.
The EURUSD rate online: monitor the movement of the pair in real time.
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