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Nov 10 - 02:55 AM

EUR/USD - Bearish Engulfing Pattern Negative, But Cloud Supports

By Martin Miller  —  Nov 10 - 01:50 AM
  • A bearish engulfing pattern has formed on the chart on Friday and Monday

  • Bearish engulfing: a smaller, white candle followed by a larger black one

  • While the bearish engulfing pattern increases downward pressure

  • Downside could be limited by cloud support that spans 1.1762-1.1813 region

  • We are long at 1.1805 in anticipation for a bull resumption to 1.2010

  • EUR/USD Trader TGM2334. Previous update nL1N2HU0I8

  • Dollar may dive after U.S. election nL1N2HV0AC

Daily Ichimoku Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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