EUR/USD: main trend is still bearish

EUR/USD: main trend is still bearish


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.


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.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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