We’ve got a “V-Top” pattern at the last high, which led to the current downward movement. It’s likely that the market is going to reach a support at 1.1067. If we see a pullback from this level, then bulls might try to reach a resistance area between the levels 1.1245 – 1.1273.
There’s a flat movement between a resistance at 1.1214 and the 55 Moving Average line, which acts as a support. In the short term, bears are likely going to achieve a support area between the levels 1.1067 – 1.1057. If sellers be stopped by this area, then the price might start rising towards a resistance at 1.1245.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
