EUR/USD: "V-Top" pattern

EUR/USD: "V-Top" pattern


There's a "V-Top" pattern, so the price reached the Moving Averages. It's likely that the market is going to reach the nearest support area at 1.1772 - 1.1757 in the short term. If a pullback from these levels happens little later on, we could have another upward price movement.


We've got a "Triple Top", so the price is consolidating. The main intraday target is the closest resistance at 1.1819 - 1.1831. If a pullback from these levels happens, we could have a decline in the direction of the next support at 1.1780 - 1.1767.




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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