EUR/USD: bullish "Pennant"

EUR/USD: bullish "Pennant"

26-6-2017-EUR-H4.png

The price is consolidating above the 55 Moving Average. Therefore, the market is likely going to reach the nearest resistance at 1.1204 - 1.1232 in the short term. If a pullback from this area happens, there'll be an opportunity to have a decline towards the 89 Moving Average.

26-6-2017-EUR-H1.png

Bulls faced resistance at 1.1212, so the price is consolidating. Also, we've got a "Pennant" pattern, so the pair is likely going to achieve resistance at 1.1227 during the day. However, if we see a pullback from this level, bears will probably try to test support at 1.1165 - 1.1137.

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