EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: all Moving Averages broken
2019-11-11 • Updated
The market is still consolidating between the Moving Averages. Also, there's a bullish 'Triangle', so the pair is likely going to test the next resistance at 1.1853 - 1.1896. A pullback from this area could be a departure point for a downward correction.
All the Moving Averages have been broken, so the price is rising. Meanwhile, it's likely to have a bearish correction in the short term. In this case, we should keep an eye on the nearest support at 1.1799 - 1.1778 as a possible departure point for an upcoming bully rally.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.