EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bears broke local trend
2019-11-11 • Updated
The price is still declining, but bears faced support on the 55 Moving Average. Nevertheless, the market is likely going to reach the next support at 1.0851, which could be a departure point for an upward movement in the direction of resistance at 1.0905 - 1.0910.
There's a local "V-Bottom", so the price is consolidating. In this case, bulls are likely going to achieve the 89 Moving Average in the coming hours. If a pullback from this line happens, bears will probably try to reach support at 1.0851.
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