EUR/USD: "V-Bottom" pattern

EUR/USD: "V-Bottom" pattern

2019-11-11 • Updated


The main trend is still bullish, but the price faced with support at 1.2164, so there's a "V-Bottom" pattern. Therefore, the market is likely going to test the nearest resistance at 1.2319 - 1.2395, which could be a departure point for another decline.


We've got a "V-Bottom" pattern, so the price is rising. The main intraday target is the closest resistance at 1.2320 - 1.2346. If a pullback from this area happens little later on, there'll be an opportunity to have a decline towards the next support at 1.2254 - 1.2233.


EUR/USD Hit All Targets
EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

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