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EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Top" pattern
2019-11-11 • Updated
There's a "V-Top" pattern, which pushed the price to support at 1.1494, so we've got a consolidation. However, bears are likely going to test the next support at 1.1464. If a pullback from this level happens, there'll be an opportunity to have another upward price movement in the direction of the nearest resistance at 1.1560 - 1.1582.
The 34 Moving Average has acted as support, so the price is consolidating. Meanwhile, the pair is likely going to test the closest resistance at 1.1529 - 1.1547, which could be a departure point for a decline. If so, we should keep an eye on the next support at 1.1494 - 1.1479 as the next bearish target.
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