EUR/USD: consolidation under the Moving Averages

EUR/USD: consolidation under the Moving Averages

2019-11-11 • Updated


The main trend is still bearish. Also, the 34 Moving Average has acted as resistance, so there's a 'V-Top' pattern. Nevertheless, after a short break, the market is likely going to test the next resistance at 1.2031 - 1.2055.


The market is consolidating under the Moving Averages. It's likely that the pair is going to test the 89 MA, which could act as resistance. If so, there'll be an opportunity to have another decline towards the nearest support at 1.1896 - 1.1890.


EUR/USD Hit All Targets
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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