EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: main trend is still bullish
2019-11-11 • Updated
The main trend is still bullish, but the price is consolidating. It's likely that the pair is going to test the 89 Moving Average in the short term. If a pullback from this line happens little later on, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.2313 - 1.2334.
Bulls faced with resistance at 1.2294, so there's a "Double Top" pattern. In this case, the market is likely going to test the closest support at 1.2254 - 1.2233. Meanwhile, if we see a pullback from this area, bulls will probably try to reach the 89 Moving Average.
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