Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: euro goes to July highs
2019-11-11 • Updated
Technical levels: support – 1.1660; resistance – 1.1720.
- Sell — 1.1660; SL — 1.1680; TP1 — 1.1600; TP2 – 1.1540.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen; the market reached the July’s local highs and may start correctional movement to Cloud.
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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