EUR/USD: 89 Moving Average acted as resistance

EUR/USD: 89 Moving Average acted as resistance


The 89 Moving Average has acted as resistance, so there's a 'High Wave' pattern, which hasn't been confirmed yet. In this case, the pair is likely going to test the nearest resistance at 1.1474 once again. A pullback from this level could lead to another decline.


There're bearish patterns such a 'Harami' and an 'Engulfing'. Therefore, the market will test the closest support at 1.1415 shortly. Meanwhile, if a pullback from this level happens little later on, we should watch the next resistance at 1.1474 as an intraday target.



Latest news

USD/CHF may rise a bit

USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.

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