EUR/USD: 34 Moving Average acted as resistance

EUR/USD: 34 Moving Average acted as resistance

2019-11-11 • Updated


The 34 Moving Average has acted as resistance, so the price is consolidating between the lower 'Window' and the Moving Averages. It's likely that the market is going to test the 55 Moving Average, which could be a departure point for a decline towards the next 'Window' (1.1287).


The Monday's 'Window' has acted as support many times, but the Moving Averages are acting as resistance, so the market is moving sideways. There's a bullish 'Engulfing' pattern, so we should watch the nearest resistance at 1.1363 as an intraday target.


EUR/USD Hit All Targets
EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

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