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EUR/USD: bulls faced "V-Top" pattern

EUR/USD: bulls faced "V-Top" pattern

The consolidation above the previously broken trend has been finally ended by the fast bullish rally, but the price faced a resistance at 1.1381. Also, we’ve got a “V-Top” pattern, so the market is likely going to decline towards a support at 1.1324 – 1.1349. If we see a pullback from this area, bulls will probably try to catch a resistance at 1.1381 – 1.1398.

EUR/USD: bulls faced "V-Top" pattern

We’ve got a “Flag” pattern on the one-hour chart, which led to the current upward price movement. Considering a “V-Top” pattern, the pair is likely going to get a support on the 55 Moving Average. However, if a pullback from this line happens, there’ll be an opportunity to have another bullish rally.

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