Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/JPY was attacked by Japanese sharks
2019-11-11 • Updated
TP1 132.8 TP2 131.8 TP3 131.5
On the daily chart, EUR/JPY returned to the lower border of the medium-term uptrend channel. In case of its successful test, the risks of the pair’s decline to 88.6% of the “Shark” pattern will increase. On the other hand, a pullback will be in favor of the resumption of the long-term uptrend.
Renews February low, it will open the way down to 88.6% target of the “Shark” pattern at 131.50.
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