EUR/AUD formed a candlestick with a long upper shadow on the D1. The pair is currently testing levels below the 50- and the 100-period moving averages.
EUR/USD: consolidation inside Tenkan-Kijun’s channel
2019-11-11 • Updated
Technical levels: support – 1.1215; resistance – 1.1300.
- Sell — 1.1280; SL — 1.1300; TP1 — 1.1215; TP2 — 1.1180.
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the market corrected to Kijun’s resistance and keep staying inside a channel Tenkan-Kijun.
EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
GBP/JPY: The pair is trading in a bearish sentiment below the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bearish momentum.
The USD is trading at its 7-week low, and it looks like it will continue falling further. Why?
Is Donald Trump better than Joe Biden for the stock market or not? And for Forex? Read the article, and you will know.