There’s a “V-Top” at the last high, which brought bears into the market. Therefore, the price faced a support at 1.1464, so currently we’ve got a flat in progress. The market is likely going to reach a support at 1.1431 – 1.1398 subsequently. If we see a pullback from this area, an upward movement becomes possible.
As we can see on the one-hour chart, the pair has been entered into a consolidation phase since a support at 1.1464 was achieved. So, the price is probably going to reach a resistance at 1.1529 during the day. Considering a possible pullback from this level, we should keep an eye on a support at 1.1437 – 1.1413 as the next feasible bearish target.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
