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EUR/USD: series of "V" tops

Sergey Logachev

EUR/USD: series of "V" tops

The main trend remains bullish. There's a flat in progress above the upper side of  “Triangle” pattern. The market is likely going to decline towards a support at 1.1326 in the short term. If a pullback arrives, then bulls will probably try to reach a resistance at 1.1437.

EUR/USD: series of "V" tops

As we can see on the one-hour chart, the last upward channel has been broken, but then the price got a support at 1.1356, so bears couldn't do anything. At the same time, it's likely to see a local downward movement towards a support at 1.1341 – 1.1326 during the day. Considering a possible pullback from this area, we should keep an eye on a resistance at 1.1376 – 1.1409.

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