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 new lows
2019-11-11 • Updated
Technical levels: support – 1.1820, 1.1760; resistance – 1.1880.
- Sell — 1.1880; SL — 1.1900; TP1 — 1.1820; TP2 — 1.1760;
Reason: expanding bearish Ichimoku Cloud with falling Senkou Span A and B; a cancelled golden cross of Tenkan-sen and Kijun-sen and the lines are horizontal; the market has broken through the SSA’s and Kijun’s supports and made new lows of the year.
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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