19.10.2020
The pair consolidates above 1.1700 ahead of today’s speeches by the ECB’s head Christine Lagarde and the Fed’s head Jerome Powell. From a technical point of view, the pair is hovering over a strong support level of 1.1700, once below, it will enter a local decline.
Technical side:
The price is below the middle Bollinger band, below SMA 5 and below SMA 14. Moving averages have intersected and suggest selling. RSI is below the 50% and is moving horizontally. Stoch has turned down.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
If the price drops below 1.1700, it will go further down to 1.1650.
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