The pair has been rising since the beginning of September. Now, there is a possibility of a reversal.
Technical analysis:
On 1W TF Euro has almost reached the trend (resistance) line, which is heading down
On 1D TF indicators are reversing slowly. MACD Histogram started falling down, 9-EMA started curving - it means that we might see the intersection between the price and the moving average soon.
Summary: for conservative traders it's better to wait till the pair breaks the support level down (120). After that it is possible to sell with the target 118,80.
Fundamental analysis:
On Thursday ECB is taking the decision about the interest rate. It is really hard to give the market additional signals, because the interest rate is on 0% level. Situation with Euro will strongly depend on the comments from ECB's members.
Technical analysis:
On 1W TF Euro has almost reached the trend (resistance) line, which is heading down
On 1D TF indicators are reversing slowly. MACD Histogram started falling down, 9-EMA started curving - it means that we might see the intersection between the price and the moving average soon.
Summary: for conservative traders it's better to wait till the pair breaks the support level down (120). After that it is possible to sell with the target 118,80.
Fundamental analysis:
On Thursday ECB is taking the decision about the interest rate. It is really hard to give the market additional signals, because the interest rate is on 0% level. Situation with Euro will strongly depend on the comments from ECB's members.