EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Triple Top" pattern
2019-11-11 • Updated
The upper side of the last "Wedge" pattern has been broken, so the price is rising. The main intraday target is the nearest resistance at 1.1875 - 1.1909. If a pullback from this area happens afterwards, there'll be an opportunity to have a decline.
All Moving Averages have been broken, but there's a "Triple Top" pattern, so the price is likely going to reach the closest support at 1.1801 - 1.1784. However, if we see a pullback from this area, bulls will probably try to reach the next resistance at 1.1845 - 1.1875.
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.