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EUR/USD: price take hold above the Triangle

Sergey Logachev

EUR/USD: price find a lodgement above the Triangle

The main trend is a still bullish one. The market has been moving in a flat since the upper side of the last “Triangle” pattern was broken. So, currently the flat is likely going to be continued. At the same time, we should keep an eye on the nearest resistance area 1.1437 – 1.1459, which acts as a main target for bulls. If a pullback from this area happens, then it’ll be a chance to see a bearish correction towards a support at 1.1341 – 1.1326.

EUR/USD: price find a lodgement above the Triangle

The price has found a resistance at 1.1453 and formed a “V-Top” afterwards, which led to the current decline. So, the pair is likely going to get a support somewhere between the 34 Moving Average and the level 1.1376. If bears be stopped here, then bulls will probably try to reach a resistance at 1.1437 – 1.1447.

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