EURUSD technical analysis

04.03.2021

Technical reviews

EURUSD

The pair is trading above 1.2040 amid employment data in the euro area publication, which may have a negative impact on it if it turns out to be worse than expected.

Technical side:

The price is located on the middle Bollinger band, at the level of SMA 5 and SMA 14. RSI is below the 50% level and moves horizontally. Stoch are below the 50% level and are uninformative.

EURUSD rate online: monitor the price movement in real time.

Trading idea:

If the pair drops below 1.2040 due to the weak data on unemployment, it may result in a further decline to 1.1950.

Author: GC
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