EUR/USD: "Evening Star" stopped bulls
Read the article on FBS website
The price has reached the nearest resistance area, but there isn’t any reversal pattern so far. Therefore, there’s an opportunity to have a local correction in the short term. Nevertheless, bulls are likely going to continue pushing the market even higher until any bearish pattern arrives.
The 55 Moving Average has acted as a support, so the price is rising. At the same time, we’ve got an “Evening Star”, but a confirmation of this pattern is a quite weak. In this case, bears are likely going to test the closest support, which could be a departure point for another bullish price movement.