EUR/USD: market to test next resistance area

EUR/USD: market to test next resistance area

31-5-2018-EUR-H4 (2).png

The main trend is still bearish, but there's a 'Double Bottom' pattern, which has been confirmed. So, the market is likely going to test the nearest resistance area at 1.1762 - 1.1799, which could be a departure point for another decline.

31-5-2018-EUR-H1 (2).png

All the Moving Averages have been broken. At the same time, it's likely to have a local bearish correction towards the closest support at 1.1679 - 1.1661. If a pullback from this area happens little later on, there'll be a moment to have an upward price movement in the direction of the next resistance at 1.1762 - 1.1799.



Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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