EUR/USD: 'V-Top' on the 55 Moving Average

EUR/USD: 'V-Top' on the 55 Moving Average

2019-11-11 • Updated

28-5-2018-EUR-H4 (1).png

The main trend is still bearish, but the price faced with support at 1.1661, so the market is consolidating. However, there's a 'V-Top' pattern, so the pair is likely going to test the next support at 1.1636 - 1.1605, which could be a departure point for an upward correction.

28-5-2018-EUR-H1 (1).png

We've got a 'V-Top', which has been formed on the 55 Moving Average. So, after a short break, we're likely going to have another decline in the direction of the nearest support at 1.1636 - 1.1605.


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