EUR/USD: market is consolidating

EUR/USD: market is consolidating


Bulls faced with resistance at 1.1675, so the market is consolidating. The main intraday target is the next resistance at 1.1710. A pullback from this level could be a departure point for another decline towards the nearest support at 1.1623 - 1.1607.


The pair is consolidating between the levels 1.1661 - 1.1679. Also, there's a possible 'Pennant' pattern. Therefore, we should keep an eye on the closest resistance at 1.1710 - 1.1726 as the next bullish goal.




EUR/USD: euro hung on Tenkan-Kijun

Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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