23.10.2020
The pair remains under pressure due to a number of negative factors. This is the impact of the 2nd COVID-19 wave pandemic, the situation around Brexit, as well as uncertainty of the unattainable agreement on economic incentives between Democrats and Republicans in the US before the presidential election. These events put pressure on demand for company shares, and this, in turn, on the Eurodollar pair.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. Moving averages give a sell signal. RSI is below the 50% level. Stoch are trying to get out of the oversold zone.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
Sell the pair with a local target of 1.1745 after its decline below 1.1790.
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