EUR/USD: bears going to test Moving Averages

EUR/USD: bears going to test Moving Averages

The price is consolidating under a resistance at 1.0951. Also, there’s a possible “Triple Top” pattern, so the market is likely going to decline towards the nearest support at 1.0819 – 1.0729. If we see a pullback from this area, there’ll be an opportunity to have another upward price movement towards a resistance at 1.0851 – 1.0855.

There’s a consolidation between the 34 & 55 Moving Averages. Therefore, the price is likely going to test the nearest resistance at 1.0905 during the day. If a pullback from this level happens, bears will probably try to test the 89 Moving Average afterwards.

eur

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