EUR/USD: bullish 'Engulfing'

EUR/USD: bullish 'Engulfing'

2019-11-11 • Updated

1112eurusdh4.png

There's a bullish 'Engulfing', but the price faced with resistance by the 89 Moving Average. In this case, we should watch the lower 'Window' (1.1322) as an intraday target. The subsequent pullback from this level could lead to an upward correction towards the 144 MA (1.1414).

1112eurusdh1.png

The price is rising because of the last 'Tweezers'. At the same time, the upper 'Window' (1.1387) has acted as resistance. If any bearish pattern forms next, there'll be a green light for a decline in the direction of the lower 'Window' (1.1322), which acted as support many times before.

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