EUR/USD: "V-Bottom" pattern

EUR/USD: "V-Bottom" pattern


The price faced support at 1.1103, so we've got a "V-Bottom" pattern, which pushed the pair towards resistance at 1.1204. Therefore, bulls are likely going to reach the next resistance at 1.1232 - 1.1249 in the short term. If a pullback from this area happens, there'll be an opportunity to have a decline in the direction of the nearest support at 1.1139 - 1.1103.


We've got a "V-Bottom", so the price reached resistance at 1.1204. However, there's a "Pennant" pattern, so the market is likely going to test the next resistance at 1.1234 in the coming hours. If we see a pullback from this level, bears will have a chance to achieve support at 1.1139 - 1.1103.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera