EUR/USD: main trend still bullish

EUR/USD: main trend still bullish

2019-11-11 • Updated

15-3-2018-EUR-H4.png

The main trend is still bullish, but there's a "V-Top" pattern, so the price is testing the nearest support at 1.2359 - 1.2346. Meanwhile, if a pullback from the 34 Moving Average happens little later on, there'll be a moment for another upward price movement.

15-3-2018-EUR-H1.png

The Moving Averages have acted as support, so the price is consolidating. Nevertheless, the market is likely going to test the next support at 1.2346, which could be a starting point for an upward price movement in the direction of the nearest resistance at 1.2384 - 1.2415.

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