EUR/USD Outlook (12th July 2019)

• ECB ready to ease further
  
• Muted EUR/USD price movement
  

Price Movement
Since yesterday, EUR/USD has been moving indecisively within a 40pips range.

Trend
Recently, EUR/USD is trending upwards.

Important Issue
In the released account of the monetary policy meeting yesterday, the ECB expressed signs of dovishness, stating that “there was broad agreement that, in the light of the heightened uncertainty, which was likely to extend further into the future, the Governing Council needed to be ready and prepared to ease the monetary policy stance further by adjusting all of its instruments, as appropriate, to achieve its price stability objective.”

Technical
EUR/USD is slowly moving towards the 1.12 key level.

Price Levels
Current Price: 1.12584
Next Resistance: 1.13300
Next Support: 1.12000