FBS - Analytics

    FBS

    555.25 6.25/10
    84% of positive reviews
    Real

    EUR/USD: "V-Top" frightened the bulls away

    EUR/USD: "V-Top" frightened the bulls away

    The price faced a resistance at 1.1341, which brought a “V-Top” pattern and a bearish movement afterwards. It’s likely that the market is going to reach a support at 1.1273 near the up-trend line. If we see any kind of pullback from here, then a new stage of bullish rally will be possible, so we should keep an eye on a resistance at 1.1376 .

    EUR/USD: "V-Top" frightened the bulls away

    As we can see on the one-hour chart, the pair found a resistance at 1.1376, which led to the current decline. The price is likely going to achieve a support at 1.1259 in the short term. If sellers be stopped here, then buyers will have an opportunity to come back to the market. If so, a support area between the levels 1.1364 – 1.1376 is going to be reached soon.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree