EUR/USD: 34 MA acting as resistance

EUR/USD: 34 MA acting as resistance

10-10-2017-EUR-H4.png

The 34 Moving Average is acting as resistance, but the market is likely going to reach the next resistance at 1.1822 - 1.1837 in the short term. If a pullback from this area happens, we could have a decline towards the nearest support at 1.1739 - 1.1714.

10-10-2017-EUR-H1.png

The price has been rising since a pullback from the downtrend happened. The main intraday target is the closest resistance at 1.1822 - 1.1831, which could be a departure point for a bearish correction.

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