EUR/USD: 144 Moving Average acted as resistance

EUR/USD: 144 Moving Average acted as resistance

0108eurusdh4 (1).png

The 144 Moving Average has acted as resistance once again, so there's a 'High Wave' pattern. Also, there's an opportunity to have a local upward correction. So, we should keep an eye on the nearest resistance at 1.1720 as a possible departure point for a decline towards the next support at 1.1602.

0108eurusdh1 (1).png

We've got a 'Shooting Star', which led to the current decline. In this case, the pair is likely going to test the nearest 'Window' at 1.1661. If we have a pullback from this level, there'll be a moment to have an upward correction towards the closest resistance at 1.1720.

eur

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