Euro rose slightly on Friday. The European Central Bank announced an interest rate decision overnight, maintaining the three key interest rates unchanged, which is in line with expectations, and shows that ECB would reduce the scale of emergency debt purchases in the next quarter and take the first small step towards the gradual end of emergency assistance. PEPP is still scheduled to end in March next year, and the purchase scale of the asset purchase plan (APP) introduced before the epidemic is still maintained at 20 billion Euros per month. This decision is basically in line with expectations.
From a technical point of view, Euro’s daily graph closed bullish for the first time after three consecutive bearish candle. EURUSD has been operating above the middle BOLL band for a long time, and the overall indicators are relatively strong. In H4 graph, EURUSD forms double bottom, the moving averages converges, and the indicators were relatively neutral. Overall prioritize Buying at low prices on the fluctuation zone. Consider the support zone and resistance zone, the deciding point whether to buy or sell is near 1.1800.
Resistance：1.1840-1.1880-1.1910
Support：1.1800-1.1780-1.1750
This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.