The pair actually froze amid the data on inflation in the eurozone, employment in Germany and business activity indices in the manufacturing sector of the eurozone and the US, which will be published today. If the data on inflation in the eurozone and production indicators show at least some positive dynamics, this will push the pair to a limited upward growth.
Technical side:
The price is located above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and moves horizontally. Stoch are not informative in the overbought zone.
Trading idea:
Buy the pair after its breakout of 1.2260 with its likely growth to 1.2345.