EUR/USD: bulls going to test down trend

EUR/USD: bulls going to test down trend

15-5-2017-EUR-H4.png

There's a "Triple Bottom", so the market is likely going to test resistance near the downtrend. However, considering the previously formed "Triple Top" and "Breakaway Gap", there's an opportunity to have a decline towards the 55 Moving Average afterwards.

15-5-2017-EUR-H1.png

The price faced resistance at 1.0947, so there's a local consolidation. Meanwhile, bulls are likely going to test the next resistance during the day, which could be a departure point for a decline in the direction of the Moving Averages.

eur

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