There’s a ‘V-Top’, so we’re likely going to have a downward correction. The main intraday target is the nearest support at 1.1627. A pullback from this level could be a starting point for another upward price movement towards the next resistance at 1.1745 – 1.1757.
The price is testing the 34 Moving Average, but there’s no any reversal pattern so far. In this case, the market is likely going to reach the next support at 1.1627 shortly. If a pullback from this level happens little later on, bulls will probably try to achieve another resistance at 1.1745 – 1.1757.
EUR/USD H4
EUR/USD H1
