EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Bottom" pattern
2019-11-11 • Updated
There's a "V-Bottom" pattern, so the price reached the 55 Moving Average. In this case, the market is likely going to test the nearest resistance at 1.1801 - 1.1846. If a pullback from this area happens, there'll be an opportunity to have a decline towards the closest support at 1.1638 - 1.1649.
The 34 Moving Average has acted as resistance, so the price is consolidating. It's likely that bears are going to achieve the nearest support at 1.1712 - 1.1703. However, if we have a pullback from these levels, bulls will have a green light to reach another resistance at 1.1757 - 1.1784.
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