The price has reached the uptrend line, which brought a “V-Bottom” pattern, so the pair was moving up towards the Moving Averages. Therefore, the market is likely going to get a support at 1.1219 – 1.1188 in the short term. If we see a pullback from this area, bulls will probably try to achieve a resistance at 1.1282 – 1.1326.
As we can see on the one-hour chart, the price has found a resistance on the 89 Moving Average, which led to the current decline. So, the market is likely going to reach a support at 1.1208 during the day. If bears be stopped here, an upward movement becomes possible.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
