EUR/USD: price rising because of 'Triple Bottom'

EUR/USD: price rising because of 'Triple Bottom'

24-5-2018-EUR-H4.png

The main trend is still bearish, but there's a 'Double Bottom' pattern, which has been confirmed. So, the market is likely going to test the nearest resistance area at 1.1762 - 1.1779. If a pullback from these levels happens little later on, there'll be a moment for another decline.

24-5-2018-EUR-H1.png

The price is rising because of the last 'Triple Bottom'. It's likely that the pair is going to test the closest resistance at 1.1762 - 1.1779, which could be a departure point for a decline towards the next support at 1.1689 - 1.1675.

eur

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