EUR/USD Is Testing the Resistance at 1.1840

Much like EUR/AUD, EUR/USD has found support after a long-term move to the downside – in this case the support is at 1.1510 – and has bounced off from that level, beginning a retracement, then has found some resistance. At said resistance at 1.1840 the pair has formed a pair of shooting star candlesticks as well as a hanging man candlestick, all on the daily time-frame. If the pair bounces off from the resistance next target will be likely at 1.1600 or even at 1.1510, and a breakout above the resistance level could lead to a further move to the upside towards 1.1990, which is the (MA)89 indicator on the daily time-frame.