EUR/USD: bulls going to deliver new high
There’s a “V-Bottom” pattern, which led to the current upward price movement, so yesterday’s “Breakaway Gap” has been closed. Despite of a resistance at 1.1324, the market is likely going to reach the next resistance at 1.1381 – 1.1398. If a pullback from this area happens, there’ll be an opportunity to have a decline towards a support at 1.1324 – 1.1282.
The price has been rising since a “V-Bottom” pattern formed at the local low. So, bulls are likely going to get a resistance at 1.1381 – 1.1398. However, if buyers be stopped here, then bears will probably try to deliver a local correction.