EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: 89 MA acted as resistance
The 89 Moving Average has acted as resistance, so the price is consolidating. Nevertheless, the pair is likely going to test the next resistance at 1.1848 - 1.1860 in the short term. If a pullback from this area happens little later on, there'll be an opportunity to have a bearish correction towards the nearest support at 1.1793 - 1.1772.
The price is consolidating between the levels 1.1822 - 1.1793. The main intraday target is the closest resistance at 1.1848 - 1.1860. However, if we see a pullback from these levels, bears will probably try to achieve another support at 1.1822 - 1.1793.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.