Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: euro in consolidation inside Cloud
2019-11-11 • Updated
Technical levels: support – 1.1620, 1.1590; resistance – 1.1690.
- Sell — 1.1690; SL — 1.1710; TP1 — 1.1590; TP2 – 1.1545
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; a local trend is growing but there is a strong resistance of Senkou Span B.
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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