Euro Rises On 1.1900 After ECB Decision

0 25

The euro currency continued its bullish momentum after the ECB held its monetary policy meeting.

With no new stimulus and the ECB not caring much about the exchange rate, the euro brushed higher.

Prices briefly tested the 1.1900 handle before pulling back. With the resistance level near 1.1900 holding up for now, EURUSD could enter into a sideways range of trading within 1.1900 and 1.1715.

To set the direction, a strong breakout is needed from either of these thresholds.

The Stochastics oscillator remains overbought at the moment. This hints that prices might move lower in the near term.

Test your strategy on how the euro will fare with Orbex - Open your account now. 

START TRADING

or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

Leave A Reply

Your email address will not be published.