EUR/USD: bears going to test nearest support

EUR/USD: bears going to test nearest support


We've got a "Double Bottom", so the price tested resistance at 1.1204. Therefore, bears are likely going to test the nearest support at 1.1131 - 1.1108 in the short term. If a pullback from this area happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1165.


There's a "Triple Top", which has been confirmed. In this case, the market is likely going to achieve the closest support at 1.1137 - 1.1131 during the day. If we have a pullback from these levels, bulls will have an option to reach resistance at 1.1165 - 1.1178.




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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