EUR/USD: primary trend is still bearish

EUR/USD: primary trend is still bearish


The primary trend is still bearish. Also, there's 'V-Top', which has been formed under the 34 Moving Average. So, the pair is likely going to reach the nearest support at 1.1365. A pullback from this level could be a starting point for another upward price movement towards the 55 Moving Average.


The 55 and 34 Moving Averages are acting as support, so we've got a 'V-Bottom' pattern. In this case, we should keep an eye on the next resistance at 1.1478. If a pullback from this level forms little later on, there'll be a moment to have a bearish correction.



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