EUR/USD: bears broke local trend

EUR/USD: bears broke local trend

EUR/USD: bears broke local trend

The price is still declining, but bears faced support on the 55 Moving Average. Nevertheless, the market is likely going to reach the next support at 1.0851, which could be a departure point for an upward movement in the direction of resistance at 1.0905 - 1.0910.

EUR/USD: bears broke local trend


There's a local "V-Bottom", so the price is consolidating. In this case, bulls are likely going to achieve the 89 Moving Average in the coming hours. If a pullback from this line happens, bears will probably try to reach support at 1.0851.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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