EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish 'Flag'
2019-11-11 • Updated
The main trend is bearish. It's likely that the pair is going to test the next support at 1.2003 - 1.1975 in the coming hours. A pullback from this area could be a starting point for an upward correction towards the nearest resistance at 1.2017 - 1.2027.
The market is consolidating between the levels 1.2003 - 1.1975. Also, there's a bearish 'Flag', so the price is likely going to achieve another support at 1.1941 - 1.1914. If a pullback from these levels happens little later on, there'll be time for a bullish correction.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
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