Any hints suggesting the stimulus program expansion in the ECB meeting protocols will cause negative effect on the pair. It may also experience extra tension if FRS protocol will suggest interest rate hikes.
The price is on the upper Bollinger band, higher than SMA 5 and SMA 14. RSI index is higher than 50% level and signals rising possibility. Stoch is showing upside movement.
Trading recommendations: At this point it’s all about stimulus program and US interest rate hikes. Keep a closer look at the ECB and FRS protocols. The pair can rise up to 1.1335 if there's nothing about the stimulus program expansion by ECB. If may fall under a great pressure if the mentioned topic will be discussed by ECB and FRS starts talking about interest rate hikes. If that happens, it can begin a downside movement and fall till 1.1185.