EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: market going to test nearest support
The price faced resistance at 1.1425, so there's a consolidation. In this case, the market is likely going to test the nearest support at 1.1398 in the short term. If we see a pullback from this level, there'll be an opportunity to have another upward price movement towards the next resistance at 1.1464.
The main trend is still bullish. The price is consolidating above support at 1.1425. However, bears are likely going to test the next support at 1.1398 in the coming hours. If a pullback from this level happens, bulls will probably try to reach the closest resistance at 1.1464.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.