EURUSD technical analysis 25.05.2020

EURUSD

The pair continues to move in the range of 1.0760–1.1015 amid the internal economic problems in the eurozone, as well as the uncertainty created by Brexit and the US-Chinese confrontation.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch are reversing in the oversold zone.

Trading recommendations:

The pair declined below 1.0885. Expect the price to go further down to the likely local target of 1.0760.

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