EUR/USD: bulls going to test next resistance

EUR/USD: bulls going to test next resistance

2019-11-11 • Updated

25-5-2017-EUR-H4.png

We've got a "Triple Bottom" pattern, so the price is rising. Therefore, bulls are likely going to test the next resistance at 1.1287 - 1.1307 in the short term. If a pullback from this area happens, there'll be an opportunity to have a bearish correction towards support at 1.1204 - 1.1171.

25-5-2017-EUR-H1.png

The price faced resistance at 1.1249, so there's a consolidation. In this case, the market is likely going to decline towards support at 1.1211 - 1.1204. However, if we see a pullback from these levels, bulls will have a chance to achieve resistance at 1.1287 - 1.1307.

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