EUR/USD: 34 Moving Average acting as resistance

EUR/USD: 34 Moving Average acting as resistance

0611eurusdh4.png

The 34 Moving Average is acting as resistance, so there's a 'Shooting Star', but confirmation of this pattern is weak. In this case, we should watch the nearest support at 1.1350 as a possible departure point for a bullish price movement towards 1.1447.

0611eurusdh1.png

We've got a bearish 'Engulfing', which is about to be confirmed. So, after a short break, the pair is likely going to reach the nearest support at 1.1350. If a pullback from this level happens next, there'll be time for another upward price movement.

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