EUR/USD: price going to reach 89 MA

EUR/USD: price going to reach 89 MA

5-10-2017-EUR-H4.png

The price is consolidating between the levels 1.1739 - 1.1793. It's likely that the market is going to test the 34 Moving Average during the day. If a pullback from this line happens later on, we could have just another decline towards the nearest support area at 1.1714 - 1.1688.

5-10-2017-EUR-H1.png

The 55 Moving Average has acted as resistance, so the price is consolidating. However, the price is likely going to reach the 89 MA, which could be a departure point for another decline.

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