EUR/USD: main trend is still bearish

EUR/USD: main trend is still bearish

11-5-2018-EUR-H4.png

The main trend is still bearish. However, there's a 'Triple Bottom' pattern, so the market is likely going to test the nearest resistance at 1.1975 - 1.2003. A pullback from this area could be a departure point for another decline.

11-5-2018-EUR-H1.png

The 89 Moving Average has acted as resistance, so the market is consolidating. At the same time, there's a 'V-Bottom', so it's likely that the pair is going to reach the closest resistance at 1.1975 - 1.2003 soon.

eur

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