EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish "Pennant"
2019-11-11 • Updated
There's a new local low, but bears faced with support at 1.1560, so we've got a "V-Bottom", which pushed the price higher. In this case, the pair is likely going to reach the nearest resistance at 1.1615 - 1.1634 in the short term. If a pullback from this area happens, there'll be an opportunity to have another decline.
We've got a bullish "Pennant" on the one-hour chart, so the market is likely going to test the closest resistance at 1.1634 during the day. If a pullback from this level happens little later on, bears will probably try to deliver a downward price movement in the direction of the next support at 1.1560 - 1.1553.
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