EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish "Harami"
2019-11-11 • Updated
Bulls went through the "Window". Finally, an "Evening Star" has been formed, so there's an opportunity to have a local bearish correction. Anyway, bulls are likely going to test the next resistance in the short term.
We've got a bearish "Harami", but confirmation of this pattern isn't enough. Therefore, we could have a local correction, but the market is likely going to continue moving up afterwards. So, there's an opportunity to have a new high soon.
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.