EUR/USD:  bullish "V-Bottom"

EUR/USD: bullish "V-Bottom"

22-6-2017-EUR-H4.png

The 89 Moving Average has acted as support, so we've got a bullish "V-Bottom". Therefore, the market is likely going to reach the 34 MA in the short term. If a pullback from this line happens, there'll be an opportunity to have a decline towards the next support at 1.1131 - 1.1108.

22-6-2017-EUR-H1.png

The Moving Averages are acting as resistance. However, there isn't any bearish pattern, so the pair is likely going to continue moving up in the direction of the closest resistance at 1.1193 - 1.1204. If we see a pullback from these levels, bears will have a green light to get support at 1.1118 - 1.1108.

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