Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: developing bearish correction
2019-11-11 • Updated
The main trend is still bullish, but there's a developing bearish correction, so we should keep an eye on the next support at 1.2129 - 1.2050 as an intraday target. If a pullback from this area happens little later on, we could have an upward price movement towards the nearest resistance at 1.2205 - 1.2246.
The price is consolidating between the levels 1.2233 - 1.2205. The main intraday target is the closest resistance at 1.2233, which could be a departure point for a decline in the direction of the next support at 1.2164.
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