EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: possible "Triple Top"
2019-11-11 • Updated
The price is still consolidating near the upper side of the current “Wedge”. At the same time, there’s a possible “Triple Top”. If this pattern confirms, the market is likely going to decline towards the 55 Moving Average. If a pullback from this line happens, there’ll be an opportunity to have another bullish price movement.
Bears faced a support at 1.0882, so the price is consolidating. Also, we’ve got a “Pennant” pattern, so the pair is likely going to test the nearest support area at 1.0855 – 1.0851 during the day. If we see a pullback from these levels, bulls will probably try to achieve a resistance at 1.0910 – 1.0918.
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.