Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
EUR/USD: bullish 'Engulfing'
2019-11-11 • Updated
There's a bullish 'Engulfing', but the price faced with resistance by the 89 Moving Average. In this case, we should watch the lower 'Window' (1.1322) as an intraday target. The subsequent pullback from this level could lead to an upward correction towards the 144 MA (1.1414).
The price is rising because of the last 'Tweezers'. At the same time, the upper 'Window' (1.1387) has acted as resistance. If any bearish pattern forms next, there'll be a green light for a decline in the direction of the lower 'Window' (1.1322), which acted as support many times before.
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
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