As I earlier indicated in my article this week, I am expecting an upward push from the Dollar as a reaction from the Demand zone I have marked out. The PPI release earlier moved prices a bit but lacked sufficient momentum to cause a significant break of structure - and thus, no change of trend.
EUR/USD: euro corrected to Kijun-sen
2019-11-11 • Updated
Technical levels: support – 1.0760, 1.0740; resistance – 1.0800/20.
1. Buy — 1.0740; SL — 1.0720; TP1 — 1.0800; TP2 – 1.0820.
Reason: bullish Ichimoku Cloud, but the Senkou Span A is falling; a golden cross of Tenkan-sen and Kijun-sen, falling Tenkan-sen; the prices are corrected to Kijun-sen and may continue correction to the Cloud.
It is general knowledge that the Major currency pairs are pairs that have the US Dollar as either the base or quote currency. As a result, our trade ideas for major pairs will begin first with an analytical review of the US Dollar chart.
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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.