05.06.2020
The pair is above 1.1345, after Thursday’s surge folowing the ECB's monetary policy meeting and the regulator’s unexpected decision to expand the stimulus measures by almost 2.5 times. If today’s US employment data is better than expected, this may lead to a local decline of the pair, likely to be followed by resumed growth.
Technical side:
The price is at the level of the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and is gradually growing. Stoch confidently decline and indicate a weaker growth.
Trading recommendations:
If the pair holds above 1.1345, it may continue further up to 1.1450. At the same time, a local decline to 1.1265 may suggest buying the pair with the same target mark.
The EURUSD rate online: monitor the movement of the pair in real time.
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