EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Bottom" pattern
2019-11-11 • Updated
We've got a "Triple Top", so the price is declining, but bears faced support at 1.1683. Anyway, the market is likely going to test the 89 Moving Average soon. If a pullback from this line happens, we could have an upward price movement towards the nearest resistance at 1.1757 - 1.1801.
There's a "V-Bottom", so we've got a consolidation, which is taking place under resistance at 1.1748. However, the market is likely going to reach another support at 1.1670 - 1.1649 in the short term. If we have a pullback from this area, bulls will probably try to achieve the nearest resistance at 1.1757 - 1.1767.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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