EUR/USD: price going to test next support

EUR/USD: price going to test next support

8-1-2018-EUR-H4.png

Bulls faced with resistance at 1.2091, so the price is consolidating. Also, there's a "Double Top" pattern, which has been confirmed. So, the pair is likely going to test the nearest support area at 1.1939 - 1.1934. Meanwhile, if a pullback from these levels happens little later on, there'll be an opportunity to have an upward price movement towards the next resistance at 1.2080 - 1.2129.

8-1-2018-EUR-H1.png

The 89 Moving Average is acting as support, but the market is likely going to test the next support at 1.1941. If we have a pullback from this level, bulls will probably try to reach another resistance at 1.2059 - 1.2080.

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