EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Harami' led to upward correction
2019-11-11 • Updated
The last bullish 'Harami' led to the current upward correction. However, there's a bearish 'Evening Star', so the price is likely going to test the next support at 1.1433 within the next few hours.
There's a bearish 'Tweezers', which has been formed on the 34 Moving Average. In this case, we should keep an eye on the nearest support at 1.1433 as the next target. At the same time, it's possible to have a local correction to 1.1560 during the day.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
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.