EUR/USD: consolidation above the 34 MA

EUR/USD: consolidation above the 34 MA


Bulls faced resistance at 1.1464, so we've got a "V-Top" pattern, which pushed the price to support at 1.1398. In this case, the market is likely going to test the next support at 1.1365. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards resistance at 1.1464 - 1.1494.


The main trend is still bullish, but there's a consolidation, which is taking place above the 34 Moving Average. Therefore, the pair is likely going to reach the nearest support at 1.1365 during the day. However, if we see a pullback from this support, bulls will probably try to reach resistance at 1.1464.



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Morning brief for May 30

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