EUR/USD: developing "Pennant"

2018-03-13 20:01    FBS

EUR/USD: developing "Pennant" Institution Opinions 1

The main trend is still bullish, but there's a developing "Pennant", so the market is likely going to test the nearest support at 1.2275 - 1.2234. If a pullback from this area happens little later on, there'll be a moment for another upward price movement.

EUR/USD: developing "Pennant" Institution Opinions 2

The pair is moving up and down in a range of the possible "Pennant" pattern, which hasn't been finished yet. So, the price is likely going to test the next resistance at 1.2345 - 1.2364, which could be a departure point for a decline.


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