EUR/USD: main trend still bullish

EUR/USD: main trend still bullish


The main trend is still bullish, but the pair faced with resistance at 1.2359, so there's consolidation. Nevertheless, it's likely that the market is going to continue moving up towards the next resistance at 1.2474 - 1.2509. If a pullback from this area happens little later on, there'll be a moment to have a decline.


The price is consolidating between the levels 1.2334 - 1.2391. It's likely that the pair is going to reach the closest support at 1.2391 - 1.2368. Meanwhile, if we see a pullback from these levels, bulls will probably try to test another resistance at 1.2434 - 1.2474.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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