22.06.2020
The pair is in a short-term downtrend amid the falling demand for risky assets as a result of the outbreak of the coronavirus pandemic in China and the extinct epidemic in the US. But today, it can recover due to the growth in the stock market in China and the same likely dynamics in the US as indicated by futures on US stock indexes.
Technical side:
The price is below the middle Bollinger band, at SMA 50 and below SMA 14. RSI is below the 50% level and moves horizontally. Stoch indicate a weakening of the price decline.
Trading recommendations:
The growth of the pair above 1.1200 may lead to its local recovery to the 1.1240.
The EURUSD rate online: monitor the movement of the pair in real time.
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