EUR/USD: local correction coming soon

EUR/USD: local correction coming soon

18-7-2017-EUR-H4.png

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.

18-7-2017-EUR-H1.png

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.

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