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 is consolidating under the 55 Moving Average. The main intraday target is the nearest resistance area at 1.1828 - 1.1847. If a pullback from these levels happens little later on, there'll be an opportunity to have a decline towards the next support at 1.1772 - 1.1756.
The price is consolidating near the 89 Moving Average. Also, there's a "Triple Bottom" pattern, so bulls are likely going to test the nearest resistance at 1.1828 - 1.1847. Meanwhile, if a pullback from this area arrives little later on, we could have a decline in the direction of another support at 1.1772 - 1.1756.
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