EUR/USD Forecast: market consolidating between the MA

eu-l9The market is consolidating between the 89 and 34 Moving Averages. It’s likely that we’re going to have a ‘Triangle’ soon. If so, we should keep an eye on the nearest resistance at 1.1829 – 1.1853 as the next bullish target.

There’s a local ‘Double Bottom’, which pushed the market higher. Meanwhile, we could have a local downward correction in the coming hours. So, if a pullback from the closest support at 1.1778 happens next, there’ll be time for another bullish price movement.


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