Global stocks barely budged on Friday as investors tightened positions with less than two weeks to go before the U.S. presidential election and awaited a breakthrough in stimulus talks in Washington.
EUR/USD: main trend still bullish
2019-11-11 • Updated
The main trend is still bullish, but the pair faced with resistance at 1.2359, so there's consolidation. Nevertheless, it's likely that the market is going to continue moving up towards the next resistance at 1.2474 - 1.2509. If a pullback from this area happens little later on, there'll be a moment to have a decline.
The price is consolidating between the levels 1.2334 - 1.2391. It's likely that the pair is going to reach the closest support at 1.2391 - 1.2368. Meanwhile, if we see a pullback from these levels, bulls will probably try to test another resistance at 1.2434 - 1.2474.
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
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