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 supported by SSB
2019-11-11 • Updated
Technical levels: support – 1.2230; resistance – 1.2350, 1.2400.
- Buy — 1.2260; SL — 1.2240; TP1 — 1.2340; TP2 — 1.2400
Reason: narrow bullish Ichimoku Cloud, but raising Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with horizontal lines; the prices are supported by Senkou Span B and may bounce to Kijun-sen.
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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