EUR/USD: 'V-Bottom' pattern

EUR/USD: 'V-Bottom' pattern

2019-11-11 • Updated

30-3-2018-EUR-H4.png

There's a 'V-Bottom' pattern, so the price is testing the 89 Moving Average. If this line turns out to be broken, we should keep an eye on the nearest resistance at 1.2359 - 1.2372 as an intraday target. A pullback from this area could be a departure point for another decline towards the next support at 1.2272 - 1.2250.

30-3-2018-EUR-H1.png

The price has been rising since a 'Double Bottom' formed at the last low. It's likely that the pair is going to test the closest resistance at 1.2359 - 1.2372 in the coming hours. Meanwhile, if a pullback from these levels happens little later on, there'll be an opportunity to have a decline in the direction of another support at 1.2285 - 1.2272.

Similar

EUR/USD Hit All Targets
EUR/USD Hit All Targets

4H Chart  Daily Chart  EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…

Latest news

CAD: Markets Await GDP Release
CAD: Markets Await GDP Release

During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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