EUR/USD: bulls pushing price higher

EUR/USD: bulls pushing price higher


There's a consolidation, which is taking place under resistance at 1.1287. So, the market is likely going to decline towards support at 1.1232 - 1.1204. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1325.


The price is consolidating between the nearest resistance at 1.1278 and the 34 Moving Average. Therefore, bears are likely going to test the 89 Moving Average in the short term. However, if we see a pullback from this line, bulls will have a chance to reach the next resistance at 1.1287 - 1.1307.




Morning brief for May 30

 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…

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