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EUR/USD: bearish correction through the "Thorns"

Sergey Logachev

EUR/USD: bearish correction through the "Thorns"

The main trend on the four-hour chart is a bullish one. At the same time, we’ve got a flat in progress under the nearest resistance at 1.1409. It’s likely to see a bearish movement towards a support at 1.1341 during the day. If a pullback arrives afterwards, then the market will have a chance to reach a resistance area at 1.1436 – 1.1460.

EUR/USD: bearish correction through the "Thorns"

We’ve got a flat in progress between the 34 Moving Average and the the local resistance at 1.1409. The price is likely going to achieve a support area near the 89 Moving Average and the current trend line. Therefore, if sellers be stopped here, then buyers will probably try to reach a resistance area at 1.1436 – 1.1460.

EUR
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