EUR/USD: consolidation under Moving Averages

EUR/USD: consolidation under Moving Averages

1-8-2018-EUR-4 (1).png

The price is still consolidating in a range of the developing 'Triangle' pattern. It's likely that the pair is going to reach the nearest resistance at 1.1767 - 1.1790 during the day. A pullback from this area could be a departure point for a decline towards the next support at 1.1673 - 1.1654.

1-8-2018-EUR-1 (1).png

There's a consolidation, which is taking place under Moving Averages, which could act as resistance. If so, the pair is going to test the nearest support at 1.1679 - 1.1661. If a pullback from these levels happens next, there'll be a moment to have an upward price movement in the direction of another resistance at 1.1706 - 1.1720.

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