EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: confirmed "Double Top" pattern
2019-11-11 • Updated
The main trend is still bullish, but there's a confirmed "Double Top" pattern, so the price is declining. The main intraday target is the nearest support at 1.2234 - 1.2205. If a pullback from these levels happens little later on, there'll be an opportunity to have another upward price movement.
All the Moving Averages have been broken, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.2327, which could be a departure point for another decline.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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