EUR/USD: bullish "Double Bottom"

EUR/USD: bullish "Double Bottom"


There's a bullish "Double Bottom", so the price is consolidating under the 89 Moving Average. The main intraday target is the nearest resistance area at 1.1822 - 1.1875, which could be a departure point for a bearish correction.


The price is consolidating between the levels 1.1819 - 1.1793. If a pullback from the 89 MA happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1848 - 1.1860.




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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