EUR/USD: 'Pennant' pattern pushed the pair lower

EUR/USD: 'Pennant' pattern pushed the pair lower


Bears faced with support at 1.1530, so there's an opportunity to have an upward correction. In this case, we should keep an eye on the nearest resistance at 1.1599 - 1.1616 as an intraday target. A pullback from this area could be a departure point for another decline.


The last 'Pennant' pattern pushed the pair lower. However, there's a 'V-Bottom', so the market is likely going to test the closest resistance at 1.1572 - 1.1599. If a pullback from these levels forms next, there'll be a moment to have a downward price movement towards the next support at 1.1518 - 1.1508.



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AUD/JPY looks exposed

AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.

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