The main trend is still bullish. There’s a “V-Bottom” pattern, so the market is likely going to test the next resistance area at 1.2322 – 1.2358. If a pullback from this area happens little later on, there’ll be an opportunity to have a decline towards the nearest support at 1.2194 – 1.2164.
There’s a possible “Falling Wedge” pattern, which upper side has been broken. So, we should keep an eye on the next resistance at 1.2322 – 1.2358 as the next bullish target. This area could be a departure point for a bearish correction.
EUR/USD H4
EUR/USD H1
