EUR/USD: lower 'Window' acting as support

EUR/USD: lower 'Window' acting as support

2019-11-11 • Updated


The lower 'Window' is acting as support, so there's an opportunity to have the second 'Engulfing' pattern in a row. In this case, the market is likely going to test the nearest resistance at 1.1359 by the last 'Three Methods' pattern. The subsequent pullback from this level could lead to another decline.


There're bullish patterns such as the last two 'Engulfing'. Thus, it's likely to have an upward correction in the direction of the 34 Moving Average. If this line acts as resistance, bears will probably try to deliver a new local low. Therefore, we should watch the next support at 1.1298 as a possible intraday target.


EUR/USD Hit All Targets
EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

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