EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: consolidation under Moving Averages
2019-11-11 • Updated
There's a 'V-Bottom', so the pair is consolidating under the Moving Averages. It's likely that the market is going to test the next support at 1.1574 - 1.1543 soon. A pullback from this area could be a departure point for a bullish price movement towards the closest resistance at 1.1649 - 1.1673.
The market is consolidating between the levels 1.1679 - 1.1630. It's likely that there's a 'Double Top'. In this case, the price is going to achieve another support at 1.1574 - 1.1565. If a pullback from these levels happens next, bulls will probably try to reach the nearest resistance at 1.1661 - 1.1679.
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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