EUR/USD: bears ready to go

EUR/USD: bears ready to go


The price is consolidating between the 34 & 55 Moving Averages. Considering the last "Triple Top" pattern, the market is likely going to test the nearest support at 1.0819 - 1.0729, which was formed by the "Breakaway Gap". If a pullback from this area happens, we could have a bullish price movement towards resistance at 1.0851.


We've got a consolidation, which is taking place under the Moving Averages. Also, there's a bullish "Thorn", so the pair is likely going to achieve the nearest resistance at 1.0892, which could be a departure point for a decline in the direction of support at 1.0838 - 1.0819.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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