EUR/USD Outlook (23 January 2020)

Overall, EUR/USD is moving across. Recently, EUR/USD has been hovering above the support level of 1.10800.
The European Central Bank (ECB) will be announcing their interest rate decision later at 2045 (SGT).
It is expected that the ECB will keep interest rate unchanged at 0.00%.
Also, the ECB will be holding a press conference at 2130 (SGT). During this time, expect price volatility in EUR pairs.
During the last ECB meeting, ECB Chairwomen Christine Lagarde mentioned that there will be a monetary policy strategy review. Pay attention to any updates that Lagarde may talk about on the strategy review during the press conference.
Currently, EUR/USD is testing the support level of 1.10800 and the next resistance level is at 1.12200.
Stay out of EUR/USD for now.