EUR/USD: "V-Top" pattern

EUR/USD: "V-Top" pattern

26-1-2018-EUR-H4 (1).png

The main trend is still bullish, but the price is consolidating between the levels 1.2569 - 1.2358. It's likely that the pair is going to test the next support at 1.2322 - 1.2272 in the coming hours. If a pullback from this area happens little later on, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.2456 - 1.2500.

26-1-2018-EUR-H1 (1).png

There's a "V-Top" pattern, but the 34 Moving Average is acting as support, so the market is going to test the closest resistance at 1.3456. A pullback from this level could be a departure point for a decline towards the 55 MA.



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