EUR/USD: price going to reach next support

EUR/USD: price going to reach next support


The price is still declining but bears faced with support at 1.1735, so there's a local consolidation. Nevertheless, the market is likely going to reach the next support at 1.1719 in the short term. If a pullback from this level happens, we could have an upward correction towards the nearest resistance at 1.1793 - 1.1822.


The price is consolidating between the levels 1.1779 - 1.1761. It's likely that bulls are going to test the closest resistance at 1.1793, which could be a departure point for a decline in the direction of another support at 1.1735 - 1.1719.




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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