Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
EUR/USD consolidating a double cycle
2019-11-11 • Updated
EUR/USD has been rallying across the board and it’s trying to consolidate above the 1.1800 mark. However, the pair is facing a strong resistance in the 1.1845 level, which should give up in favor of the bulls in order to test the Fibonacci extensión zone of 100% at 1.1882. Such move could be the indication of a double cycle held since December 12th lows.
RSI indicator remains in the positive territory, favoring to the bulls.
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Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...