EUR/USD: "V-Bottom" pattern

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18-12-2017-EUR-H4.png

Bears faced with support at 1.1772, so there's a "V-Bottom", which pushed the price to the Moving Averages. The main intraday target is the next resistance at 1.1814 - 1.1859. If a pullback from these levels happens, we could have a decline towards the nearest support at 1.1728 - 1.1712.

18-12-2017-EUR-H1.png

The 34 & 55 Moving Averages have been broken, so the pair is likely going to reach the closest resistance at 1.1814 - 1.1847. Meanwhile, if we have a pullback from this area, there'll be an opportunity to see another decline in the direction of the next support at 1.1756 - 1.1728.

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