EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Double Top" pattern
2019-11-11 • Updated
There's a "Double Top" pattern, which has been confirmed. So, the price reached the nearest support at 1.1757, which led to a consolidation. In this case, the market is likely going to test the next support at 1.1712 - 1.1683. If a pullback from this levels happens, there'll be an opportunity to have an upward price movement towards the closest resistance at 1.1801 - 1.1846.
The price is consolidating near the Moving Averages. Also, there's a bearish "Pennant" pattern, so the pair is likely going to achieve the next support at 1.1720 - 1.1708 during the day. If we have a pullback from these levels, bulls will probably try to reach resistance at 1.1798 - 1.1801.
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.