EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: main trend is still bearish
2019-11-11 • Updated
The main trend is still bearish. However, there's a 'V-Bottom', so the price is moving up. Even so, the market is likely going to test the nearest support at 1.1312 once again. A pullback from this level could be a departure point for an upward correction towards the closest resistance at 1.1365 - 1.1425.
The last 'Pennant' pushed the price higher. However, there's a 'V-Top', so the market is likely going to test the next support at 1.1365 - 1.1335 within the next few hours. If a pullback from this area happens next, we should keep an eye on the 89 Moving Average as an intraday target.
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