There’s a local flat in progress, so the market is likely going to reach a support at 1.1145 afterwards. Moreover, we’ve got a “Pennant” pattern, which indicates that bears are still in the game. However, if a pullback from a support at 1.1145 happens, there’ll be a chance to see an upward correction.
We’ve got a flat between a resistance at 1.1230 and a support at 1.1178. Therefore, the pair is likely going to rise during the day. If bulls be stopped by the nearest resistance at 1.1245, bears will probably move on and deliver a new low shortly.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
