The market has came back in a range of the current “Triangle” pattern and finally faced a support on the 89 Moving Average, which brought a local flat. The price is likely going to reach the next support at 1.1217. If we see a pullback from this line, bulls will have an opportunity to achieve a resistance area between the the 55 Moving Average and the level at 1.1326.
The pair found a support at 1.1242, which stopped bears, so we’ve got an open door for an upward correction. It’s likely that the market is going to get a resistance at 1.1284 – 1.1294. If so, a decline will probably happen in the direction of a support at 1.1233 – 1.1219.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
