U.S. stock markets opened higher on Monday, buoyed by hopes for a last-minute agreement on a comprehensive fiscal stimulus package before the elections on November 3.
AUD/USD: aussie in correction to Cloud
2019-11-11 • Updated
Technical levels: support – 0.7530, 0.7590; resistance – 0.7660
- Buy — 0.7590; SL — 0.7570; TP1 — 0.7660; TP2 — 0.7690.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, but narrowing channel Tenkan-Kijun; the market is in correctional movement to Cloud; waiting for bouncing it from the upper border of the Cloud.
EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
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