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 'High Wave'
2019-11-11 • Updated
We've got a bullish 'High Wave', but confirmation of this pattern is quite weak. So, the price is likely going to test the nearest resistance at 1.1437, which could be a departure point for another decline towards the next support at 1.1336.
The lower 'Window' has acted as support, so an upward correction is taking place. The main intraday target is the 34 Moving Average. If a pullback from this line happens little later on, bears will probably try to achieve the closest support at 1.1336.
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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