EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish "Rectangle"
2019-11-11 • Updated
The price has been consolidating under resistance at 1.1287. The 34 Moving Average is acting as support, so the pair is likely going to test the nearest resistance at 1.1307 - 1.1325. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1249 - 1.1232.
There's a consolidation, which is taking place between the levels 1.1278 - 1.1204. Also, we've got a "Rectangle", so bulls are likely going to test the next resistance at 1.1287 - 1203 in the coming hours. However, if we have a pullback from this area, bears will probably try to test the 55 Moving Average.
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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