EUR/USD: opportunity to have upward correction

EUR/USD: opportunity to have upward correction

17-8-2018-EUR-H4.png

There's a 'V-Bottom', so the market is likely going to test the 55 Moving Average in the short term. However, if a pullback from this line happens little later on, there'll be a moment to have another decline towards the next support at 1.1365 - 1.1312.

17-8-2018-EUR-H1.png

The pair is consolidating between the levels 1.1425 - 1.1335. Previously, we had a 'V-Bottom', so there's an opportunity to have an upward correction. The main intraday target is the nearest resistance at 1.1478. A pullback from this level could lead to another bearish price movement.

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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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