EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bears are going to test next support
2019-11-11 • Updated
Bulls faced resistance at 1.1846, so there's a "Triple Top", which pushed the price to support at 1.1757. So, the market is likely going to test the nearest support at 1.1712 in the short term. If a pullback from this level happens, bulls will probably try to reach the nearest resistance at 1.1846 - 1.1875.
The last "Pennant" pattern has been broken, so the price found support at 1.1757. Nevertheless, the pair is likely going to test the next support at 1.1727 - 1.1712 during the day. However, there's an opportunity to have an upward correction towards resistance at 1.1801 - 1.1823 afterwards.
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