28.07.2020
The pair is correcting down amid a strong local overbought condition ahead of the Fed's monetary policy meeting. It may decline further today before receiving a new impetus for growth.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is coming out of the overbought zone. Stoch also turned down.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
If the pair doesn’t hold above 1.1710, it will fall to 1.1635, which will make a 23% Fibonacci pullback.
Thank you for subscribing to our analytics
You already subscribed
Don't have your language?
