EUR/USD: "V-Bottom" pattern

EUR/USD: "V-Bottom" pattern


There's a "V-Bottom" pattern, so the price reached the nearest resistance at 1.1615. Nevertheless, the market is likely going to achieve the next resistance at 1.1668 - 1.1695 in the short term. If a pullback from this area happens, we could have a downward correction towards the closest support at 1.1560 - 1.1533.


The last "V-Bottom" pattern led to the current consolidation. The main intraday target is the nearest support at 1.1582 - 1.1560. If a pullback from this area happens, there'll be an opportunity to have an upward price movement in the direction of another resistance at 1.1668 - 1.1695.



EUR/USD: euro reached new highs

Expanding bullish Ichimoku Cloud with rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are supported by Cloud, Tenkan-sen and Kijun-sen and a market is ready to go higher.


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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