EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: price reached the 34 MA
2019-11-11 • Updated
The price reached the 34 Moving Average, but there isn't any reversal pattern so far. In this case, bulls are likely going to test the 89 MA in the short term. If a pullback from this line happens, we could have just another decline.
The last "Three Methods" pattern has acted as support. At the same time, we don't have any bearish candle pattern for now. In this case, the upward correction is likely going to move on until any reversal pattern forms.
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.