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EURUSD technical analysis 16.10.2020


The pair is consolidating above 1.1700 after yesterday’s drop. The main negative factor is the uncertainty of the US election and the second wave of COVID-19 in Europe, which supports the US dollar as a safe-haven currency.

Technical side:

The price is located on the lower Bollinger band, at SMA 5 and below SMA 14. RSI is below the 50% mark and is moving horizontally. Stoch have turned upwards and grow.

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

Trading recommendations:

A drop below 1.1700 will result in a further drop to 1.1650.

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