EUR/USD: "V-Bottom" pattern

EUR/USD: "V-Bottom" pattern


We've got a "Triple Top", so the price is declining, but bears faced support at 1.1683. Anyway, the market is likely going to test the 89 Moving Average soon. If a pullback from this line happens, we could have an upward price movement towards the nearest resistance at 1.1757 - 1.1801.


There's a "V-Bottom", so we've got a consolidation, which is taking place under resistance at 1.1748. However, the market is likely going to reach another support at 1.1670 - 1.1649 in the short term. If we have a pullback from this area, bulls will probably try to achieve the nearest resistance at 1.1757 - 1.1767.




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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