Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: Moving Averages acted as resistance
2019-11-11 • Updated
The Moving Averages have acted as resistance, so the price is declining. However, we've got a bullish "High Wave" pattern, so there's an opportunity to have a local bearish correction in the short term. Nevertheless, the market is likely going to continue moving down afterwards.
There're bullish patterns such a "Harami" and a "Hammer", but both of them haven't been confirmed yet. So, the price is likely going to test the 55 Moving Average, which could be a departure point for another decline.
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