EUR/USD: 89 Moving Average acted as resistance

EUR/USD: 89 Moving Average acted as resistance

5-7-2018-EUR-H4.png

The 89 Moving Average has acted as resistance, so there's a local bearish correction. Nevertheless, the market is likely going to test the next resistance at 1.1720 - 1.1744, which could be a starting point for a decline towards the nearest support at 1.1673 - 1.1652.

5-7-2018-EUR-H1.png

The last 'Pennant' pushed the price higher. However, there's a 'V-Top', so the price is likely going to test the Moving Averages shortly. If a pullback from these lines formes next, there'll be a moment for another bullish price movement.

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