EUR/USD: bullish "Pennant"

EUR/USD: bullish "Pennant"

25-8-2017-EUR-H4.png

The price is consolidating near support at 1.1801. Also, there's a "Pennant", so the market is likely going to move up towards the nearest resistance at 1.1846. In this case, we could have a new local high pretty soon. However, bears will probably try to achieve the closest support at 1.1757 afterwards.

25-8-2017-EUR-H1.png

There's a consolidation, which is taking place near the 34 Moving Average. At the same time, we've got a bullish "Pennant". Therefore, we should keep an eye on the next resistance at 1.1838 - 1.1846 as an intraday target. If a pullback from this area happens, there'll be an opportunity to have a decline towards the nearest support at 1.1789 - 1.1783.

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