EUR/USD: bears faced with support

EUR/USD: bears faced with support


The 89 Moving Average has been broken, so there's a new local low. In this case, the market is likely going to continue declining towards the nearest support at 1.1837 - 1.1822. If a pullback from this area happens, we could have an upward correction in the direction of the closest resistance at 1.1925 - 1.1952.


Bears faced with support at 1.1837, so the price is consolidating. Therefore, we should keep an eye on the nearest resistance at 1.1864 - 1.1874 as an intraday target. Meanwhile, if we have a pullback from these levels, bears will probably try to catch another support at 1.1837 - 1.1822.



Bitcoin (BTC/USD) opening the doors for a lower extension

As we had anticipated in previous reports, Bitcoin has finally made a break of the important level of support at 12,852 and is now on track to reach the Fibonacci level of 0% at 10,680, which could mean a bearish continuation that will allow to…


Morning brief for May 30

 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…

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