EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: there isn't any reversal pattern
2019-11-11 • Updated
The price reached the 89 & 144 Moving Averages, but there isn't any reversal pattern so far. In this case, the current bearish correction is likely going to move on towards the 55 Moving Average.
We still don't have any confirmed reversal pattern, so the pair is likely going to test the upper "Window" in the coming hours. If a pullback from this level happens, we could have just another local decline.
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.