EUR/USD: new "Breakaway Gap"

EUR/USD: new "Breakaway Gap"


There's a "V-Top" pattern, so a new "Breakaway Gap" was formed this morning. The 89 Moving Average is acting as support, but bears are likely going to test the next support at 1.1837 - 1.1822. If a pullback from this area happens, we could have an upward price movement towards the closest resistance at 1.1909 - 1.1925.


The downward trend has been broken, so the price is still declining. The main bearish target is the nearest support at 1.1837 - 1.1822. If we have a pullback from this area, there'll be an opportunity to have an upward correction in the direction of the closest resistance at 1.1897 - 1.1909.




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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