EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Bottom" pattern
2019-11-11 • Updated
The main trend is still bullish, but there's a "V-Bottom" pattern, so the market is likely going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment for another decline.
There're two "V-Bottom" patterns in a row, so it's time for a bullish correction. The main intraday target is the nearest resistance area at 1.2313, which could be a departure point for a decline in the direction of the next support at 1.2254 - 1.2233.
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