EUR/USD: all Moving Averages broken

EUR/USD: all Moving Averages broken


All the Moving Averages have been broken, but there's a 'V-Top' pattern, which led to the current local correction. However, the pair is likely going to continue moving up towards the next resistance at 1.1699. If a pullback from this level happens next, there'll be time for a bearish correction.


There's a 'V-Bottom', which has been formed above the Moving Averages. So, the price is likely going to test the nearest resistance at 1.1679 - 1.1689. This area could be a starting point for a decline in the direction of the closest support at 1.1627 - 1.1610.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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