EUR/USD: "V-Top" at the local high

EUR/USD: "V-Top" at the local high


The price has been rising since a "Triple Bottom" was formed at the last low. However, bulls faced resistance at 1.1122, so there's an opportunity to have a downward correction towards the nearest support at 1.1066. If we see a pullback from this level, we should keep an eye on resistance at 1.1122 - 1.1152 as the next bullish target.


We've got a "V-Top" at the local high. If this pattern confirms, bears are likely going to test support at 1.1066. Meanwhile, if we a pullback from this level happens, bulls will try to push the price even 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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