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EUR/USD: "Pennant" pattern

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1-12-2017-EUR-H4.png

The 34 Moving Average has acted as support, so the market is likely going to reach the next resistance area at 1.1975 - 1.2003 in the short term. If a pullback from these levels happens little later on, there'll be an opportunity to have a downward correction towards the nearest support at 1.1909 - 1.1859.

1-12-2017-EUR-H1.png

Bulls faced with resistance at 1.1927, so the price is consolidating. Also, there's a "Pennant" pattern, so the pair is likely going to achieve the closest resistance at 1.1975 - 1.2003 during the day. Meanwhile, if we have a pullback from this area, bears will probably try to test another support at 1.1909 - 1.1897.

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