EUR/USD: 55 MA acted as support

EUR/USD: 55 MA acted as support

2607eurusdh4-1.png

We've got a bearish "Engulfing", which has been confirmed enough. So, the market is likely going to test the 34 Moving Average. If a pullback from this line happens, there'll be an opportunity to have another upward price movement.

2607eurusdh1-1.png

There are bearish patterns such a "High Wave" and an "Engulfing". The 55 Moving Average has acted as support, so we could have a local upward correction. However, bears are likely going to deliver a new local low afterwards.

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