EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: price testing 55 Moving Average
2019-11-11 • Updated
The price is testing the 55 Moving Average, which could act as support. If so, the market is likely going to reach the nearest resistance area at 1.1934 - 1.1938. Meanwhile, if a pullback from these levels happens little later on, there'll be an opportunity to have another decline towards the next support at 1.1884 - 1.1875.
Bears faced with support at 1.1941 - 1.1914, so the price is consolidating. The main intraday target is the 34 Moving Average. If we have a pullback from this line, bears are likely going to reach the closest support at 1.1890 - 1.1871.
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