EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Bottom" pattern
2019-11-11 • Updated
Bears faced with support at 1.1875, so we've got a "V-Bottom" pattern, which pushed the price to the nearest resistance at 1.1909. So, the market is likely going to decline towards the next support at 1.1846. If a pullback from this level happens, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.1975 - 1.2003.
The 34 Moving Average has acted as resistance, so there's a "V-Top" pattern. Therefore, the pair is likely going to decline towards the closest support at 1.1875 - 1.1863. However, if we have a pullback from these levels, bulls will probably try to reach resistance at 1.1959.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
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