The pair was moving down on Friday, so we’ve got a support at 1.1233 and a «V-Bottom» pattern. It’s likely to see a local upward correction. At the same time, bears have enough power to get a support at 1.1195 – 1.1166. If we a pullback from this zone arrives, it’ll be a chance to see the price on a resistance at 1.1217 – 1.1233.
We’ve got a «V-Top» pattern, which led to the current decline. Finally, the pair found a support at 1.1233, so there’s an upward correction in progress. The market is likely going to reach a resistance at 1.1269 – 1.1284. If bulls be stopped somewhere in here, it’ll be an opportunity for bears to achieve a support at 1.1217 – 1.1168.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
