Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
EUR/USD broke lower
2019-11-11 • Updated
SELL 1.1030; TP 1.1000; SL 1.1040
EUR/USD has dived below support at 1.1100 and 1.1050 resuming the longer-term downtrend. The longer-term target seems to be at 1.0820 (78.6% Fibo of the 2016-2018 advance) after the pair settled below the 61.8% Fibo retracement at 1.1185. As for the near-term, the “Head and Shoulders” pattern implies that the targets are not yet reached - 1.1000 and 1.0950. The pair’s still not oversold.
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