EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: price testing the 55 Moving Average
2019-11-11 • Updated
There's a 'V-Bottom', so the price is testing the 55 Moving Average. The main intraday target is the next resistance at 1.1720. A pullback from this level could be a departure point for a bearish correction towards the closest support at 1.1628 - 1.1599.
The last 'Flag' pushed the price higher. Meanwhile, if a pullback from the nearest resistance at 1.1679 - 1.1661 happens next, there'll be a moment for a downward correction in the direction for the Moving Averages.