After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
EUR/USD: a possible rise for the euro
2019-11-11 • Updated
TP1 1.1555 TP2 1.1645 TP2 1.168
On a daily chart of EUR/USD, the pair managed to break the support at 1.1430, which activated “Shark” and AB=CD patterns. The price is close to the convergence between 1.1180 (the 61.8% level on the long-term uptrend) and 1.1215 (the 200% target of the AB=CD pattern). This situation makes it possible for the pair to break the support at 1.13.
On H1, the price has almost reached the 88.6% target of the “Shark” pattern. This situation intensifies risks of the reversal. If the pair crosses the resistances at 1.1455 and 1.15, it will activate the “Wolfe Waves” pattern.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.