EUR/USD: 'V-Bottom' points to upward correction

EUR/USD: 'V-Bottom' points to upward correction

14-8-2018-EUR-H4.png

There's a 'V-Bottom', so we're likely going to have an upward correction. The main intraday target is the nearest resistance at 1.1425 - 1.1478. A pullback from this area could be a starting point for another decline towards the next support at 1.1365.

14-8-2018-EUR-H1.png

It's likely that there's a 'Triple Bottom', so the price is rising. In this case, we should keep an eye on the 55 Moving Average as a bullish target. Meanwhile, if a pullback from this line happens next, there'll be a moment to have a decline in the direction of another support at 1.1365.

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