EUR/USD: main trend is still bullish

EUR/USD: main trend is still bullish

22-1-2018-EUR-H4 (1).png

The main trend is still bullish, but the price is consolidating. It's likely that the price is going to continue moving up, so we should keep an eye on the next resistance at 1.2296 - 1.2322 as the next intraday target. If a pullback from this area happens little later on, there'll be an opportunity to have a bearish correction.

22-1-2018-EUR-H1 (1).png

The 55 Moving Average has acted as support, so the market is likely going to reach the closest resistance at 1.2296 - 1.2322 in the coming hours. Meanwhile, if we see a pullback from these levels, bears will probably try to test the nearest support at 1.2225 - 1.2194.

eur

Similar

EUR/USD: bullish 'High Wave'

We're likely going to have an upward correction in the short term. Even so, bears will probably try to deliver another decline little later on...

eur

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera