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EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Pennant" led to form new high
2019-11-11 • Updated
There's a "V-Bottom" pattern, so the price reached the nearest resistance at 1.1772. Nevertheless, the market is likely going to achieve the 89 Moving Average in the short term. If a pullback from this line happens, we could have a decline towards the closest support at 1.1714 - 1.1688
The last "Pennant" pattern led to form a new local high. Also, we've got a bullish "Flag", so the pair is likely going to reach another resistance at 1.1831 in the coming hours. However, if a pullback from this level happens, there'll be an opportunity to have a decline in the direction of the nearest support at 1.1739 - 1.1714.
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