EUR/USD: 'Pennant' pattern pushed price higher

EUR/USD: 'Pennant' pattern pushed price higher

2019-11-11 • Updated


The pair has been rising since the last 'V-Bottom' pattern formed. The main intraday target is the next resistance at 1.1757 - 1.1790. A pullback from this area could be a starting point for a downward correction towards the 89 Moving Average.


The last 'Pennant' pattern pushed the price higher. Meanwhile, it's likely to have a bearish correction during the day. So, we should keep an eye on the closest support at 1.1720 - 1.1706 as a local target. If a pullback from these levels happens next, there'll be a moment for another upward price movement.



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