Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: euro corrected to Cloud
2019-11-11 • Updated
Technical levels: support – 1.1545; resistance – 1.1620, 1.1650.
- Sell — 1.1650; SL — 1.1670; TP1 — 1.1545; TP2 – 1.1510
Reason: bearish Ichimoku Cloud, but horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with narrow channel Tenkan-Kijun; the market goes to correction and will test the Cloud’s resistance.
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
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