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 may enter into Cloud
2019-11-11 • Updated
Technical levels: support – 1.1780; resistance – 1.1820.
- Buy — 1.1830; SL — 1.1810; TP1 — 1.1900; TP2 – 1.1930.
- Sell — 1.1800; SL — 1.1820; TP1 — 1.1710; TP2 – 1.1650.
Reason: bullish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal Tenkan-sen and Kijun-sen; the market supported by the Cloud, but the correction may continue to Senkou Span B
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