EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 34 & 55 MA acting as support
2019-11-11 • Updated
The 34 & 55 Moving Averages are acting as support, but there isn't any reversal pattern so far. In this case, the price is likely going to test the nearest support area once again. If a bullish pattern forms little later on, there'll be an opportunity to have an upward correction.
The price is consolidating between the Moving Averages. At the same time, there's a bearish "High Wave" pattern, so the price is likely going to break the last low in the coming hours.
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