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EURUSD technical analysis 31.07.2020


The pair is trading below the resistance level of 1.1900. Global weakness of the dollar is expected to escalate amid the apparent problems in the US economy and the massive stimulus by the Fed and the Treasury, which turn the dollar from a safe-haven currency into a funding currency.

Technical side:

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch indicate a weaker growth.

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

Trading recommendations:

If the price goes above 1.1900, it will rise further to 1.1950.

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