EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: bullish "V-Bottom"
The 89 Moving Average has acted as support, so we've got a bullish "V-Bottom". Therefore, the market is likely going to reach the 34 MA in the short term. If a pullback from this line happens, there'll be an opportunity to have a decline towards the next support at 1.1131 - 1.1108.
The Moving Averages are acting as resistance. However, there isn't any bearish pattern, so the pair is likely going to continue moving up in the direction of the closest resistance at 1.1193 - 1.1204. If we see a pullback from these levels, bears will have a green light to get support at 1.1118 - 1.1108.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.