EUR/USD: "Three Methods" acted as support

EUR/USD: "Three Methods" acted as support


The last "Three Methods" pattern acted as support, so the price is consolidating. It's likely that the market is going to continue moving up until any bearish pattern arrives.


There's a "Piercing Line", which has been formed on the 34 Moving Average. However, confirmation of this pattern is a quite weak. Therefore, the pair is likely going to test the 55 MA, which could be a departure point for another upward price movement.




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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