EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Evening Star' pattern
2019-11-11 • Updated
It's likely that we're going to have an 'Evening Star' pattern, so there's a green light to have a bearish correction towards the Moving Averages. If a pullback from these lines happens next, bulls will probably try to test the next resistance at 1.1456.
There're bearish patterns such a 'High Wave' and a 'Harami', which both have been confirmed. At the same time, the lower 'Window' could act as support. If this happens, the price is likely going to test the nearest resistance at 1.1428 once again.
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.