EUR/USD: broken "Triangle" pattern

EUR/USD: broken "Triangle" pattern


The last "Triangle" pattern has been broken, so the price is declining. The main intraday target is the next support at 1.2205 - 1.2164. If we have a pullback from these levels, there'll be an opportunity for an upward price movement towards the nearest resistance at 1.2246.


The price is consolidating under the broken "Triangle" pattern. It's likely to have a bullish correction in the coming hours. Meanwhile, if a pullback from the closest resistance at 1.2259 - 1.2275 happens little later on, we could have another decline.




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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