The pair shows a local downward reversal ahead of the ECB’s monetary policy meeting today. The regulator is expected to expand stimulus measures by 500 billion euros, which may support the local stock market and put pressure on the common currency.
Technical side:
The price is located below the middle Bollinger band, at SMA 5 and below SMA 14. RSI is below the 50% level and turned down again. Stoch are still growing.
EURUSD rate online: monitor the price movement in real time.
Trading recommendations:
Sell the pair with a likely drop to 1.2000.