Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Three Methods' pattern
2019-11-11 • Updated
The price has reached the 34 Moving Average, but we've got a 'Three Methods' pattern. In this case, the market is likely going to continue declining towards the 89 & 144 Moving Averages. If a pullback from these lines happens next, there'll be a moment for another bullish rally.
There's a bullish 'Doji', but confirmation of this pattern is quite weak. Previously, a 'Hanging Man' pattern was formed. Thus, we should watch the 34 Moving Average (1.1485) as a possible departure point for a decline in the direction of the lower 'Window' (1.1412).
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