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EUR/USD: local bullish 'Thorn' pattern
There's a local bullish 'Thorn' pattern, so the price is consolidating. The main intraday target is the next resistance at 1.1750 - 1.1757. A pullback from this area could be a departure point for a decline towards the closest support at 1.1673 - 1.1649.
The last 'Double Top' has been confirmed, so the market is likely going to achieve the nearest support at 1.1679 - 1.1661. If a pullback from this area happens next, bulls will probably try to test another resistance at 1.1744 - 1.1750.
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
The U.S. Commerce Department said it will issue an order Friday that will bar people in the United States from downloading Chinese-owned messaging app WeChat and video-sharing app TikTok starting on September 20.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.