EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "V-Top" pattern led to decline
2019-11-11 • Updated
There's a "V-Top" pattern, so the price reached the nearest support at 1.1757. Moreover, the market is likely going to continue moving down, so we should keep an eye on the next support at 1.1729 - 1.1719 as an intraday bearish target. If a pullback from this area happens little later on, there'll be an opportunity to have an upward correction towards the closest resistance at 1.1793 - 1.1822.
All the Moving Averages have been broken, so the price is declining. The main bearish target is the next support at 1.1729 - 1.1719. This area could be a departure point for a bullish price movement in the direction of the nearest resistance at 1.1767 - 1.1780.
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