EUR/USD: 144 Moving Average acted as resistance

EUR/USD: 144 Moving Average acted as resistance

2011eurusdh4.png

The 144 Moving Average has acted as resistance, so there's a bearish 'Tower' pattern. In this case, we're likely going to have a local downward correction towards the 34 Moving Average. The following pullback from this line could lead to another upward price movement in the direction of 1.1493.

2011eurusdh1.png

There're bearish patterns such a 'Harami' and a 'Shooting Star', which both have been confirmed. Therefore, after a short break, the pair is likely going to continue declining. The main intraday target is the 89 & 144 Moving Averages.

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EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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