EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish "Thorn"
2019-11-11 • Updated
All Moving Averages have been broken, so bears achieved a support at 1.0639, which pushed the price to a resistance at 1.0678. Therefore, bulls are likely going to test a resistance area between the level 1.0705 and the 55 Moving Average. If a pullback from these levels happens, there’ll be an opportunity to have another decline towards a support at 1.0655 – 1.0594.
We’ve got a pullback from a resistance at 1.0678, so the market is likely going to reach the nearest support at 1.0655 – 1.0639. However, if we see a pullback from this area, bulls will probably try to deliver a new local high.
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