EUR/USD: "V-Bottom" pushed price higher

EUR/USD: "V-Bottom" pushed price higher

22-9-2017-EUR-H4.png

The main trend is still bullish, so we've got a "V-Bottom" pattern, which pushed the price higher. So, the market is likely going to continue rising towards the next resistance at 1.2021 - 1.2033. If a pullback from this area happens, we could have a decline towards the nearest support at 1.1925 - 1.1909.

22-9-2017-EUR-H1.png

We've got a "Triple Bottom", which has been confirmed, but bulls faced with resistance at 1.1968. In this case, the price is likely going to test the closest support at 1.1941 - 1.1934. However, if we have a pullback from these levels, bulls will try to achieve another resistance at 1.2021 - 1.2033.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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