EUR/USD: consolidation under Moving Averages

EUR/USD: consolidation under Moving Averages


There's a 'V-Bottom', so the pair is consolidating under the Moving Averages. It's likely that the market is going to test the next support at 1.1574 - 1.1543 soon. A pullback from this area could be a departure point for a bullish price movement towards the closest resistance at 1.1649 - 1.1673.


The market is consolidating between the levels 1.1679 - 1.1630. It's likely that there's a 'Double Top'. In this case, the price is going to achieve another support at 1.1574 - 1.1565. If a pullback from these levels happens next, bulls will probably try to reach the nearest resistance at 1.1661 - 1.1679.



Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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