There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/USD: bearish 'Engulfing' pattern
There's a bearish 'Engulfing', so the market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to reach another resistance at 1.1836.
We've got bearish patterns such a 'Shooting Star' and a 'Harami', which means the pair is going to test the 34 Moving Average (1.1730). A pullback from this line could be a departure point for a rally towards the next resistance at 1.1836.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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