EUR/USD: main trend is still bearish

EUR/USD: main trend is still bearish

16-8-2018-EUR-H4.png

The main trend is still bearish. However, there's a 'V-Bottom', so the price is moving up. Even so, the market is likely going to test the nearest support at 1.1312 once again. A pullback from this level could be a departure point for an upward correction towards the closest resistance at 1.1365 - 1.1425.

16-8-2018-EUR-H1.png

The last 'Pennant' pushed the price higher. However, there's a 'V-Top', so the market is likely going to test the next support at 1.1365 - 1.1335 within the next few hours. If a pullback from this area happens next, we should keep an eye on the 89 Moving Average as an intraday target.

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