EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 34 MA acted as support
2019-11-11 • Updated
The 34 Moving Average has acted as support, so the price is consolidating. Meanwhile, it's likely that the pair is going to test the 89 MA soon. A pullback from this line could be a departure point for another bullish price movement towards the next resistance at 1.2377 - 1.2395.
There's a 'Double Top' pattern, which has been confirmed, but the market faced support on the 89 Moving Average. In this case, we should keep an eye on the nearest resistance at 1.2377 - 1.2381 as an intraday target.