EUR/USD: main trend is still bearish

EUR/USD: main trend is still bearish

20-8-2018-EUR-H4.png

The main trend is still bearish. It's likely that the pair is going to test the next resistance at 1.1574. A pullback from this level could be a departure point for a decline towards another support at 1.1508 - 1.1487.

20-8-2018-EUR-H1.png

The market is still consolidating, so we're likely going to have a local correction in the short term. In this case, if a pullback from the 1.1508 - 1.1478 happens next, it'll be time for a bullish price movement in the direction of 1.1574.

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