EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: developing bearish correction
2019-11-11 • Updated
The main trend is still bullish, but there's a developing bearish correction, so we should keep an eye on the next support at 1.2129 - 1.2050 as an intraday target. If a pullback from this area happens little later on, we could have an upward price movement towards the nearest resistance at 1.2205 - 1.2246.
The price is consolidating between the levels 1.2233 - 1.2205. The main intraday target is the closest resistance at 1.2233, which could be a departure point for a decline in the direction of the next support at 1.2164.
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.