EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish "Pennant"
2019-11-11 • Updated
Bears faced a support at 1.0571, so we’ve got a “Double Bottom” pattern. Also, there’s a bullish “Pennant”, so the market is likely going to test the nearest resistance at 1.0594 – 1.0655 in the short term. If a pullback from this area happens, bears will probably try to test a support at 1.0571 once again.
The last “Double Bottom” has been confirmed by the “Flag” pattern. Therefore, the pair is likely going to reach the closest resistance at 1.0639 – 1.0655 during the day. Considering a possible pullback from these levels, there’s an opportunity to have a decline towards a support at 1.0600 – 1.0594.
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