EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
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.
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