Dovish ECB and hawkish Fed paint a bearish outlook for the EUR/USD. Is declining to 1.0770 the next stop?
EUR/USD: ready to continue uptrend
2019-11-11 • Updated
Technical levels: support – 1.1910; resistance – 1.1960, 1.1990.
- Buy — 1.1910; SL — 1.1890; TP1 — 1.1960; TP2 – 1.1990.
Reason: expanding bullish Ichimoku Cloud with rising Senkou Span A; an irregular dead cross of Tenkan-sen and Kijun-sen, narrowing channel of Tenkan-Kijun; the prices are on the support of Tenkan-sen and Kijun-sen and breaking out the SSA’s resistance.
Last week, EURUSD broke below a significant support level, the gas price retested its October high, and the oil prices managed to correct lower on the bearish signs of more oil supplies coming into the market.
This article will analyze the possible scenarios for the EU, and what's more important, look at the charts. There is a lot to see, let's go!
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