EUR/USD: "Triple Bottom" stopped bearish rally
Bears faced a support at 1.1145, which led to form a “V-Bottom” pattern. So, the market is likely going to get a resistance on the 89 Moving Average in the short term. At the same time, if a pullback from this line happens, there’ll be an opportunity to see a decline towards a support at 1.1138 – 1.1122.
We’ve got a “Triple Bottom” pattern, so the price is rising. It’s likely that bulls are going to reach the nearest resistance at 1.1181 – 1.1198 during the day. Nevertheless, if we see a pullback from these levels, bears will probably try to deliver another decline.