EUR/USD Forecast: consolidation under Moving Averages

eur-usdThere’s a ‘V-Bottom’, so the pair is consolidating under the Moving Averages. It’s likely that the market is going to test the next support at 1.1574 – 1.1543 soon. A pullback from this area could be a departure point for a bullish price movement towards the closest resistance at 1.1649 – 1.1673.

The market is consolidating between the levels 1.1679 – 1.1630. It’s likely that there’s a ‘Double Top’. In this case, the price is going to achieve another support at 1.1574 – 1.1565. If a pullback from these levels happens next, bulls will probably try to reach the nearest resistance at 1.1661 – 1.1679.

EUR/USD H4

20-7-2018-EUR-H4.png

EUR/USD H1

20-7-2018-EUR-H1.png

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