EUR/USD: "V-Bottom" pattern

EUR/USD: "V-Bottom" pattern

12-12-2017-EUR-H4 (1).png

There's a "V-Bottom" pattern, so the price is consolidating under the 55 Moving Average. The main intraday target is the nearest resistance area at 1.1828 - 1.1847. If a pullback from these levels happens little later on, there'll be an opportunity to have a decline towards the next support at 1.1772 - 1.1756.

12-12-2017-EUR-H1 (1).png

The price is consolidating near the 89 Moving Average. Also, there's a "Triple Bottom" pattern, so bulls are likely going to test the nearest resistance at 1.1828 - 1.1847. Meanwhile, if a pullback from this area arrives little later on, we could have a decline in the direction of another support at 1.1772 - 1.1756.




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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