Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bears going to test Moving Averages
2019-11-11 • Updated
The price is consolidating under a resistance at 1.0951. Also, there’s a possible “Triple Top” pattern, so the market is likely going to decline towards the nearest support at 1.0819 – 1.0729. If we see a pullback from this area, there’ll be an opportunity to have another upward price movement towards a resistance at 1.0851 – 1.0855.
There’s a consolidation between the 34 & 55 Moving Averages. Therefore, the price is likely going to test the nearest resistance at 1.0905 during the day. If a pullback from this level happens, bears will probably try to test the 89 Moving Average afterwards.
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EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
