EUR/USD: local correction coming soon

EUR/USD: local correction coming soon


Bulls faced resistance at 1.1529, so the market is likely going to test the nearest support at 1.1494 in the short term. If a pullback from this area happens, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1529 - 1.1560.


The price is consolidating along resistance at 1.1529. If any bearish pattern forms in the coming hours, the pair is likely going to reach the closest support at 1.1494. However, if we see a pullback from this level, bulls will have a green light to achieve another resistance at 1.1529 - 1.1560.




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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