EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Double Bottom" pattern
2019-11-11 • Updated
The main trend is still bearish, but the price is consolidating. The 55 Moving Average is acting as resistance, so the pair is likely going to reach the nearest support at 1.1634 - 1.1615 in the short term. If a pullback from this levels happens little later on, we could have another upward price movement towards the next resistance at 1.1695 - 1.1724.
There's a "Double Bottom" pattern, which has been formed above the 34 Moving Average, so the price is consolidating. The main intraday target is the closest resistance at 1.1689 - 1.1695. If we have a pullback from this area, bears will probably try to reach the 89 MA.
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy
After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.