The main trend is still bullish, but there’s a developing bearish correction, so we should keep an eye on the next support at 1.2129 – 1.2050 as an intraday target. If a pullback from this area happens little later on, we could have an upward price movement towards the nearest resistance at 1.2205 – 1.2246.
The price is consolidating between the levels 1.2233 – 1.2205. The main intraday target is the closest resistance at 1.2233, which could be a departure point for a decline in the direction of the next support at 1.2164.
EUR/USD H4
EUR/USD H1
