The price has been moving in a range of the current “Flat”, so we’ve got a pullback from the nearest support at 1.1057. Therefore, the market is likely going to rise towards the 89 Moving Average. If a pullback from this line happens afterwards, bears will probably try to reach the next support at 1.1057 – 1.1032.
As we can see on the one-hour chart, there’s a flat between the 34 Moving Average and a support by the level at 1.1051. So, bulls are likely going to get a resistance at 1.1125 – 1.1145 in the short term. At the same time, if we see a pullback from this area, a downward movement becomes possible, so we should keep an eye on the local support at 1.1089 – 1.1074 as a possible bearish target.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
