UK officials are reportedly preparing to dilute PM Johnson’s Brexit legislation, in a move that could rekindle negotiations with the EU.
EUR/USD: 'Pennant' pattern pushed price higher
2019-11-11 • Updated
The pair has been rising since the last 'V-Bottom' pattern formed. The main intraday target is the next resistance at 1.1757 - 1.1790. A pullback from this area could be a starting point for a downward correction towards the 89 Moving Average.
The last 'Pennant' pattern pushed the price higher. Meanwhile, it's likely to have a bearish correction during the day. So, we should keep an eye on the closest support at 1.1720 - 1.1706 as a local target. If a pullback from these levels happens next, there'll be a moment for another upward price movement.
How do we trade EUR/GBP today? All the same, but watch for reversal signs against the existing downtrend.
Looking ahead, highlights from macroeconomic calendar include Eurozone CPI US Retail Sales and University of Michigan, European Council Summit and Fed’s Williams speech.
The Kiwi has been losing value against the US dollar. Where does it go?
CHF/JPY retraced 61.8% of its August-September decline, corrected down, formed a higher low above the 100-day MA and now seems eager to rise to the 78.6% Fibonacci level at 116.90.
European stock markets are seen opening a little lower Tuesday, weighed by weakness on Wall Street as time begins to run out on a new U.S. stimulus package