EUR/USD: bearish "Engulfing"

EUR/USD: bearish "Engulfing"

1207eurusdh4-2.png

We've got a bearish "Engulfing", which hasn't been confirmed yet. In this case, the price is likely going to decline towards the nearest resistance in the short term.

1207eurusdh1-2.png

The 34 Moving Average has acted as support, so the market is likely going to test the next resistance in the coming hours. If any bearish pattern arrives afterwards, there'll be an opportunity to have a decline.

eur

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