EUR/USD Forecast: market has plunged

a-3The market has plunged. Bears faced support at 1.1425, so there’s an opportunity to have an upward correction. The main intraday target is the nearest resistance at 1.1478 – 1.1508. This area could be a departure point for another decline.

There’s a ‘V-Bottom’, so the price is likely going to test the closest resistance at 1.1478 – 1.1508 shortly. If a pullback from these levels happens next, we should keep an eye on the next support at 1.1425 – 1.1365 as a bearish target.

EUR/USD H4

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EUR/USD H1

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