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 correction to SSB
2019-11-11 • Updated
Technical levels: support – 1.1620; resistance – 1.1750.
- Sell — 1.1750; SL — 1.1770; TP1 — 1.1700; TP2 — 1.1620;
Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are inside a Cloud and may test its upper bounds.
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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