Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: breakout SSB’s resistance
2019-11-11 • Updated
Technical levels: support – 1.0700, 1.0680; resistance – 1.0740, 1.0790.
1. Buy — 1.0720; SL — 1.070; TP1 — 1.0790; TP2 – 1.0820.
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen, rising Kijun-sen; the prices are breaking out the resistance of SSB; local market is overbought.
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
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