08.06.2020
The pair is above the 1.1280, consolidating in anticipation of the Fed’s final monetary policy decsion to be made on a meeting from Tuesday to Wednesday. This will force investors to be cautious ad cause a local correction of the pair.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and at the level of SMA 14. RSI is moving horizontally under the overbought zone. Stoch turn up in the oversold zone.
Trading recommendations:
If the pair does not hold above 1.1280, it will correct down to 1.1190 (23% of Fibonacci retracement), before resuming growth to 1.1450.
The EURUSD rate online: monitor the movement of the pair in real time.
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