Bears have been stopped by the current uptrend line, so we’ve got a flat in progress. The market is likely going to break the trendline in the short term. Therefore, we should keep an eye on the nearest support at 1.1327 as the next bearish target. If we see a pullback from this line, there’ll be a chance to have an upward correction.
The pair has been moving in a downward flat under the Moving Averages. It’s likely that the price is going to get a resistance at 1.1413 during the day. If so, bears will probably try to move on and reach a support at 1.1369 – 1.1339 afterwards.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
