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' pushing price higher
2019-11-11 • Updated
There's a bullish 'Engulfing', so the market is likely going to test the 34 Moving Average, which could act as resistance. If so, we should keep an eye on the lower 'Window' (1.1400) as the next bearish target.
We've got an 'Engulfing', which has been formed on the 55 Moving Average, so we're going to have a local correction towards 1.1471. If a pullback from this level forms next, there'll be a moment to have another bullish price movement.
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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