EUR/USD: bearish "High Wave"

EUR/USD: bearish "High Wave"

1407eurusdh4-1.png

The 34 Moving Average has acted as support, so we've got a "Hammer", but this pattern hasn't been confirmed yet. So, we could have a local downward correction in the short term. Meanwhile, bulls are likely going to test the nearest resistance afterwards.

1407eurusdh1-1.png

We've got a bearish "High Wave", but this pattern remains unconfirmed. In this case, the market is likely going to test the closest support, which could be a departure point for another upward price movement.

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