EUR/USD: bullish 'V-Bottom'

EUR/USD: bullish 'V-Bottom'

2-4-2018-EUR-H4 (1).png

There's a bullish 'V-Bottom', so the price is consolidating. It's likely that the market is going to test the next resistance at 1.2359 - 1.2372 in the short term. If a pullback from this area forms little later on, there'll be an opportunity to have a decline towards the nearest support at 1.2285 - 1.2272.

2-4-2018-EUR-H1 (1).png

The price is consolidating under the Moving Averages. However, there's a bullish 'Flag' pattern, so the pair is likely going to reach the closest resistance at 1.2395 - 1.2372 in the coming hours. A pullback from these levels could be a starting point for another bearish price movement.



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