The pair has grown significantly in the recent days amid a weaker US dollar following the increased demand for risk assets. But it’s technically overbought, and the rally has stopped in the stock markets, which may result in a downward correction of the pair.
Technical side:
The price is …
The overall trend is downward. The ascending truncated H1 level pattern ended with the breakout of the inclined channel. A breakout of 0.9127 will result in the formation of a descending wave pattern. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator indicates an overbought condition.
Tuesday, November 10th, today’s news—Pfizer and BioNTech announced the successful end of phase three trial of coronavirus vaccine that was found 90% effective. Global markets reacted with enthusiasm, Dow and S&P 500 hit record highs, stocks of airline and digital companies rise in Asia, European markets are mixed, unemployment in …
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