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EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Hammer" led to bullish correction
2019-11-11 • Updated
The last "Shooting Star" and "Engulfing" patterns have been confirmed, but the 34 Moving Average has acted as support. So, we could have a local upward correction in the short term. Nevertheless, bears are likely going to test the 55 MA afterwards.
There's an "Inverted Hammer" at the last low, so the price is rising. It's likely that the market is going to continue moving up towards the nearest resistance area. If any bearish pattern arrives later on, we could have just another decline.
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