EUR/USD: main trend is still bearish

EUR/USD: main trend is still bearish

6-8-2018-EUR-4.png

The main trend is still bearish. The triangle's lower side has been broken, so the market is declining. At the same time, there's an opportunity to have a local upward correction soon. In this case, we should keep an eye on the nearest resistance at 1.1574 - 1.1601 as a possible departure point for another bearish price movement.

6-8-2018-EUR-1.png

The pair is consolidating between the levels 1.1574 - 1.1548. Also, there's a 'V-Bottom', so the price is likely going to reach the closest resistance at 1.1590 - 1.1601 in the coming hours. If a pullback from this area forms next, there'll be a green light for a decline towards the next support at 1.1540 - 1.1526.

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