EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish party
2019-11-11 • Updated
The lower "Window" has acted as support, which led to a new local high. Considering the last "Hammer", bulls are likely going to test the nearest resistance level, which could be a departure point for a downward correction.
We've got some bullish patterns such a "High Wave" and a "Hammer" at the last low. So, there's an opportunity to have the market even higher in the short term. However, if any bearish pattern arrives afterwards, bears will probably try to deliver a correction.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.