EUR/USD: "V-Bottom" pattern

EUR/USD: "V-Bottom" pattern

13-7-2017-EUR-H4.png

Bears faced support at 1.1398, so we've got a "V-Bottom" pattern, which pushed the price to resistance at 1.1464. Therefore, bulls are likely going to test the next resistance at 1.1494. If a pullback from this level happens, there'll be an opportunity to have a decline towards the nearest support at 1.1444 - 1.1425.

13-7-2017-EUR-H1.png

There's a "Thorn" pattern, which has been formed on the 89 Moving Average. In this case, the market is likely going to achieve the closest resistance at 1.1479 - 1.1488. However, if we see a pullback from this area, bears will probably try to reach support at 1.1444 - 1.1425.

eur

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