EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Morning Star" pattern
2019-11-11 • Updated
There's a "Morning Star" pattern, which has been confirmed. Therefore, the 21 Moving Average is likely going to at as resistance, which could be a starting point for another decline.
The price has been declining since the last "Tweezers" pattern was formed. If the Moving Averages act as resistance, the market is likely going to test the lower "Window".
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.