EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: confirmed bearish 'Engulfing'
2019-11-11 • Updated
There's a bearish 'Engulfing', which has been confirmed, so the market is likely going to test the nearest support at 1.1447 in the coming hours. The subsequent pullback from this level could lead to another bullish rally in the direction of the next resistance at 1.1554.
We've got a confirmed 'Shooting Star', which formed at the last high, so the pair is declining. The main intraday target is the closest support at 1.1447, which is near the 34 Moving Average. If a pullback from this line happens next, bulls will probably try to achieve the upper 'Window' (1.1554).
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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