EURUSD: "V-Top" pattern

EURUSD: "V-Top" pattern

11-1-2018-EUR-H4 (1).png

Bulls faced with resistance at 1.2033, so there's a "V-Top" pattern. The main intraday target is the next support at 1.1884 - 1.1875. If a pullback from this area happens little later on, there'll be a moment to have an upward price movement towards another resistance at 1.1975 - 1.2003.

11-1-2018-EUR-H1 (2).png

All the Moving Averages have been broken, so the price is consolidating. It's likely that the market is going to reach the 89 Moving Average in the short term. If a pullback from this line happens, bears will probably try to achieve the nearest support at 1.1890 - 1.1871.

eur

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