EUR/USD: "Pennant" pattern

EUR/USD: "Pennant" pattern


The last "Pennant" pattern has been broken, so the price faced support at 1.1712. However, the market is likely going to continue falling down towards the 55 Moving Average. If a pullback from this line happens, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1757 - 1.1801.


Bears found support at 1.1712, so the price is consolidating. It's likely that the pair is going to test the nearest resistance at 1.1757 - 1.1776 during the day. Meanwhile, if we have a pullback from this area, sellers will probably try to achieve the next support at 1.1683.



EUR/USD: euro going lower

Narrowing irregular bullish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market are in the negative area and made the new lows.

EUR/USD inside a key support area

The EUR/USD pair was smashed during Friday’s session amid a strong USD across the board, helping to push the pair towards the Fibonacci zone of 65% at 1…


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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