EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bulls going to break Moving Averages
2019-11-11 • Updated
Bulls went through the nearest support area, so the price faced a resistance at 1.0678. Therefore, there’s an opportunity to have a bearish correction towards the 89 Moving Average. If a pullback from this line happens, we should keep an eye on the next resistance at 1.0698 – 1.0707.
The last bullish “Flag” and the Moving Averages have been broken. Also, there’s a pullback a resistance at 1.0678, so the price is consolidating. In this case, the pair is likely going to test the 89 Moving Average, which could be a departure point for an upward price movement in the direction of a resistance at 1.0698 – 1.0707.
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.