The trend in the scenario above is clearly bearish. We have also had a recent break of structure at the marked horizontal arrows, which means we can expect price to react from the supply zone that broke the structure.
EUR/USD: correction to Cloud
2019-11-11 • Updated
Technical levels: support – 1.1850, 1.1815; resistance – 1.1920, 1.1960.
- Buy — 1.1850; SL — 1.1830; TP1 — 1.1920; TP2 – 1.1960.
Reason: bullish Ichimoku Cloud, but horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, narrowing channel of Tenkan-Kijun; the prices are breaking down the support of Kijun-sen and going to Cloud.
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