EUR/USD: 34 Moving Average acted as support

EUR/USD: 34 Moving Average acted as support

1106eurusdh4 (1).png

The 34 Moving Average acted as support, so there's a bullish 'Hammer' pattern, which has been confirmed. At the same time, we've got a 'Shooting Star', so the market is likely going to test the Moving Averages soon. If a pullback from these lines happens next, bulls will probably try to reach the nearest resistance at 1.1836.

1106eurusdh1 (1).png

There's a 'Shooting Star', which has been formed on the upper 'Window'. So, after a short break, the pair is likely going to test the closest support at 1.1739. A pullback from this level could be a starting point for an upward price movement in the direction of the next resistance at 1.1836.

eur

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