EUR/USD: market going to continue declining

EUR/USD: market going to continue declining


Bears faced with support at 1.1734, but the market is likely going to continue declining. The main intraday target is the nearest support at 1.1712 - 1.1695. If a pullback from this area happens, we could have an upward price movement towards the closest resistance at 1.1776 - 1.1792.


Considering that the price found support at 1.1734, there's an opportunity to have a bullish correction. Meanwhile, if a pullback from the nearest resistance at 1.1756 happens little later on, bears are likely going to reach the next support at 1.1712 - 1.1695.




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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