EUR/USD: bearish 'Engulfing' pattern

EUR/USD: bearish 'Engulfing' pattern

2712eurusdh4.png

There's a bearish 'Engulfing' pattern, which hasn't been confirmed yet. Thus, it's likely that the pair is going to test the lower 'Window' (1.1323) in the coming hours. If a pullback from this level happens next, there'll be a moment to have another upward price movement.

2712eurusdh1.png

The upper 'Window' has acted as resistance, so there's an 'Engulfing' pattern. In this case, the market is likely going to reach the lower 'Window" (1.1323) shortly. If any bullish pattern forms on this level next, there'll be a green light for an advance in the direction of the previously tested resistance at 1.1437.

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