Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/JPY: bulls enter the crossroads
2019-11-11 • Updated
Рекомендация: BUY 129.75 SL 129.2 TP1 130.95 TP2 131.8
On the daily chart, EUR/JPY bulls prepare an attack on the horizontal resistance aiming to return the pair inside the previous medium-term rising channel. If they succeed, risks of the bullish trend resumption will significantly rise.
On H1, the unsuccessful attempt of bears to make a “Head and Shoulders” pattern points at sellers’ weakness. A break of diagonal resistance will allow the bulls aim for 88.6% and 113% targets of the “Shark” pattern.
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