07.10.2020
The pair found support at 1.1730 and may resume growth. Higher expectations of new stimulus package from the ECB may support the pair. However, if the sentiment in the stock market turns negative after Trump’s decision not to support new stimulus proposals by Republicans, the pair may continue its corrective decline.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and moves horizontally. Stoch are in the oversold zone.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
The pair may rise to 1.1800 due to positive sentiment in the European stock market, or drop to 1.1700 if the sentiment turns negative after dropping below 1.1730.
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