EUR/USD: Moving Averages waiting for bulls
The price faced a support at 1.1113, so we’ve got a consolidation in progress. Also, there’s a “V-Bottom” pattern, so the market is likely going to move up towards the 89 Moving Average. Considering a “Triple Top” pattern, bears will probably try to test a support at 1.1113 once again.
We’ve got a local “Triple Bottom” on the one-hour chart, so there’s a bullish correction. Therefore, the pair is likely going to get a resistance between the 55 Moving Average and a level at 1.1192. If we see a pullback from this area, there’ll be an opportunity to have a decline towards a support at 1.1122 – 1.1113.