Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Pennant' pattern pushed the pair lower
2019-11-11 • Updated
Bears faced with support at 1.1530, so there's an opportunity to have an upward correction. In this case, we should keep an eye on the nearest resistance at 1.1599 - 1.1616 as an intraday target. A pullback from this area could be a departure point for another decline.
The last 'Pennant' pattern pushed the pair lower. However, there's a 'V-Bottom', so the market is likely going to test the closest resistance at 1.1572 - 1.1599. If a pullback from these levels forms next, there'll be a moment to have a downward price movement towards the next support at 1.1518 - 1.1508.
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