EUR/USD: local "V-Bottom" pattern

EUR/USD: local "V-Bottom" pattern

2019-11-11 • Updated

27-2-2018-EUR-H4 (1).png

The price is consolidating near the Moving Averages. Also, there's a possible "Triangle", so the pair is likely going to test the upper side of this pattern. If a pullback from this line happens little later on, there'll be an opportunity to have another decline.

27-2-2018-EUR-H1 (1).png

There's a local "V-Bottom" pattern, so the pair is likely going to test the nearest resistance at 1.2355. If we have a pullback from this level, bears will probably try to achieve the closest support at 1.2254 - 1.2233.


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