EUR/USD: "Pennant" pattern

EUR/USD: "Pennant" pattern


The 34 Moving Average has acted as support, so the market is likely going to reach the next resistance area at 1.1975 - 1.2003 in the short term. If a pullback from these levels happens little later on, there'll be an opportunity to have a downward correction towards the nearest support at 1.1909 - 1.1859.


Bulls faced with resistance at 1.1927, so the price is consolidating. Also, there's a "Pennant" pattern, so the pair is likely going to achieve the closest resistance at 1.1975 - 1.2003 during the day. Meanwhile, if we have a pullback from this area, bears will probably try to test another support at 1.1909 - 1.1897.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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