Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
More downside for EUR/USD
2019-11-11 • Updated
SELL 1.1370; TP 1.1340; SL 1.1380
As we pointed out at the start of the week, EUR/USD failed to pursue upside and returned the levels, at which it has been trading since the end of October.
It looks like the downside is still not finished. Although the pair managed to close above the 50-day MA at 1.1380 yesterday, it’s now testing lower levels. The support line from November lows at 1.1340 will attract the pair. There’s scope for such move: the lower daily Bollinger band is at 1.1320, daily Alligator is declining.
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