EUR/USD: consolidation right above the "Wedge"

EUR/USD: consolidation right above the "Wedge"

2019-11-11 • Updated


The price is still consolidating right above the "Wedge" pattern's lower side. So, the market is likely going to test the nearest resistance at 1.1232 - 1.1249 in the short term. If we see a pullback from this area, there'll be an opportunity to have another decline in the direction of the next support at 1.1204 - 1.1165.


There's a consolidation, which is taking place between the levels 1.1234 - 1.1161. Also, the price has broken the Moving Averages, so bulls are likely going to test the closest resistance at 1.1234 - 1.1249 during the day. However, if a pullback from this area happens, bears will have a chance to reach a support area at 1.1191 - 1.1178.


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EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

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