EUR / USD: "Thorn" brings to market correction

Posted by larosfx on 01 July 2016

EUR / USD: "Thorn" brings to market correction




Price was faced with a 1.1130 resistance, leading to a decline locally. So, the market is likely to get a short-term support in the 1.1045 to 1.1032. If a pullback from this area happens, speculators can increase the price will try to reach a resistance at 1.1145 to 1.1188.
There is a local sideways between resistance at 1.1130 and MA nearest 34. Therefore, the pair is likely to reach the bottom of the current resistance at 1.1045 to 1.1032. If we see the pullback from here, a trend becomes possible, so we should keep track next resistance at 1.1179 to 1.1188 as a possible target increase.

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