The trend in the scenario above is clearly bearish. We have also had a recent break of structure at the marked horizontal arrows, which means we can expect price to react from the supply zone that broke the structure.
EUR/USD: euro inside a cloud
2019-11-11 • Updated
Technical levels: support – 1.1490; resistance – 1.1590.
- Sell — 1.1590; SL — 1.1610; TP1 — 1.1520; TP2 — 1.1490;
Reason: narrowing bearish Ichimoku Cloud with rising Senkou Span A; a cancelled dead cross of Tenkan-sen and Kijun-sen with rising lines; the market is entered inside a Cloud and may test its upper border.
Hello, my beautiful readers. This week, we continue our critically detailed look at the markets in hopes of getting profitable trading opportunities. As usual, I'll be starting with the DXY (US Dollar Index) since it holds considerable sway over the Major currency pairs.
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