EUR/USD: support waiting for bears

EUR/USD: support waiting for bears

2019-11-11 • Updated

EUR/USD: support waiting for bears

The main trend is still bearish. The price faced a resistance at 1.0739, so there’s a consolidation. Therefore, the market is likely going to reach the nearest support at 1.0701. If a pullback from this level happens, there’ll be an opportunity to have another bullish price movement towards a resistance at 1.0739 – 1.0759.

EUR/USD: support waiting for bears

The price is consolidating between the nearest resistance at 1.0739 and the 34 Moving Average. In this case, the pair is likely going to test the closest support at 1.0698 during the day. If a pullback from this level be on the table, bulls will probably try to achieve a resistance at 1.0739 – 1.0759.

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