EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Double Top" pattern
2019-11-11 • Updated
The last "Double Top" pattern led to the current decline. The main intraday target is the nearest support at 1.1745 - 1.1719. If we see a pullback from this area, there'll be an opportunity to have an upward price movement towards the closest resistance at 1.1822 - 1.1837.
There's a "Double Top" pattern, which has been formed under the Moving Averages. In this case, the market is likely going to test the next support at 1.1761 - 1.1738. If a pullback from these levels happens little later on, we could have an upward correction in the direction of the 34 Moving Average.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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