Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: euro resumed uptrend
2019-11-11 • Updated
Technical levels: support – 1.2480; resistance – 1.2530.
- Buy — 1.2480; SL — 1.2460; TP1 — 1.2530; TP2 — 1.2590
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the market is supported by Cloud and returned into the positive area.
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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