EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Triangle' was broken
2019-11-11 • Updated
The main trend is bearish. The last 'Triangle' was broken, so the market is likely going to test the nearest support at 1.1895 - 1.1879. If a pullback from this area happens little later on, there'll be a moment to have an upward correction.
The price is declining because of the last 'V-Top' pattern. So, we should keep an eye on the next support at 1.1895 - 1.1879 as an intraday target. A pullback from these levels could be a departure point for a bullish correction.
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.
The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.