EUR/USD: primary trend is still bearish
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The primary trend is still bearish. However, there's a 'V-Bottom', so the market is likely going to test the nearest resistance at 1.1601 - 1.1619. A pullback from this area could be a departure point for a decline towards the next support at 1.1526 - 1.1508.
The last 'Pennant' led to the current upward price movement. The main intraday target is the closest significant resistance at 1.1612 - 1.1619. Meanwhile, if a pullback from these levels forms next, bears will probably try to reach another support at 1.1540 - 1.1526.