EUR/USD: technical analysis
The main trend on the EUR/USD pair is a still bullish. The price has found a resistance at the level 1.1377 and a “V” top pattern has been formed thereafter. In the short-term we can expect a correction to a support area between the levels 1.1245 - 1.1214, but then the market may start rising ones again towards a resistance area between the levels 1.1394 - 1.1439.
There’s a local up-trend on the one-hour chart. The pair has a flat movement in progress between the resistance level at 1.1377 and the 34 Simple Moving Average (SMA). It's likely that the market will go higher to a resistance area between the levels 1.1337- 1.1352. Afterwards, bears can show their power and let the price go to a correction towards a support area between the levels 1.1245 - 1.1214.