EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Engulfing" pattern
2019-11-11 • Updated
There's an "Engulfing" pattern, which has been formed at the last high. So, the pair is likely going to test the 34 Moving Average, which could be a departure point for another upward price movement.
The 55 Moving Average acted as support, so there's a "High Wave" pattern. In this case, we could have a local upward correction. Nevertheless, bears are likely going to test the 89 MA afterwards.
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