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EUR/USD: price going to test Moving Averages

EUR/USD: price going to test Moving Averages

The price faced a support at 1.0978, which led to form a “V-Bottom” pattern, so there’s a local upward correction in progress. In this case, the market is likely going to reach a resistance at 1.1032 – 1.1045 in the short term. If a pullback from this area happens, bears will have a chance to test the nearest support at 1.0951 – 1.0911.

EUR/USD: price going to test Moving Averages

We’ve got another “V-Bottom” pattern on the one-hour chart. Therefore, bulls are likely going to achieve the 55 Moving Average during the day. At the same time, if we see a pullback from this line, there’ll be an opportunity to have a decline towards a support at 1.1000 – 1.0984.

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