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 on new lows
2019-11-11 • Updated
Technical levels: support – 1.1670, 1.1620; resistance – 1.1760.
- Sell — 1.1760; SL — 1.1780; TP1 — 1.1670; TP2 — 1.1620;
Reason: bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market made a new lows and goes to correction to the Cloud.
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