EUR/USD: two "V-Bottoms" in a row points to possible new high
The price is consolidating under the previously broken “Triangle”. Also, we’ve got two local “V-Bottoms” in a row. So, the market is likely going to achieve the 34 Moving Average. If a pullback from this line happens, there’ll be an opportunity to see a decline towards a support at 1.1001 – 1.0970.
We’ve got a local flat between the 89 Moving Average and the nearest support at 1.0980. Therefore, the pair is likely going rise in the direction of a resistance at 1.1057 – 1.1074. However, if a pullback from this area arrives later on, bears will probably try to catch a support at 1.0970.