EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Top" pattern
2019-11-11 • Updated
We've got a "V-Top" pattern, so the price reached support at 1.1340. Meanwhile, the market is likely going to continue moving down towards the next support at 1.1307 in the short term. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1365 - 1.1398.
The 55 Moving Average has been broken, so the price faced support at 1.1340. At the same time, there's a "V-Bottom", which pushed the price to resistance at 1.1354. In this case, the market is likely going to reach the 34 Moving Average in the short term. If a pullback from this line happens, bears will have a green light to test the closest support at 1.1307.