EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish 'Engulfing'
2019-11-11 • Updated
There's a bullish 'Engulfing', which has been confirmed enough. At the same time, we've got a 'Doji', so the market is likely going to test the closest support at 1.1360 soon. A pullback from this level could be a starting point for a bullish price movement towards the 55 Moving Average.
The upper 'Window' is acting as resistance, so we've got a 'Shooting Star' pattern, which hasn't been confirmed yet. In this case, the pair is likely going to test the nearest resistance at 1.1417 once again. Therefore, if we have another pullback from this level, there'll be time for a decline.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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