EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Double Top" pattern
2019-11-11 • Updated
The 34 Moving Average has acted as support so the price is rising. However, bulls didn't fixate above the "Runaway Gap", so we could have a local downward correction. Nevertheless, the market is likely going to climb even higher, so we should keep an eye on the next resistance at 1.2080 - 1.2129 as an intraday target.
We've got a "Double Top" pattern, which has been confirmed, so the price is likely going to achieve the closest support at 1.2022. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards another resistance at 1.2129.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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