EUR/USD: 'V-Top' led to decline

EUR/USD: 'V-Top' led to decline


The last 'V-Top' pattern led to the current decline. It's likely that the market is going to test the next support at 1.2003 - 1.1975. A pullback from this area could be a departure point for a bullish correction.


The market has been declining since the last 'Triple Top' formed under the Moving Averages. The main intraday target is the next support area between the levels 1.2003 - 1.1975.




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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