EUR/USD: bearish "High Wave" and "Engulfing"

EUR/USD: bearish "High Wave" and "Engulfing"

2606eurusdh4.png

The price tested the nearest resistance once again, so we've got a bearish "Tweezers" on this level. Considering a confirmation of this pattern, bears are likely going to test the 89 Moving Average in the short term. If a pullback from this line happens, there'll be an opportunity to have another upward price movement.

2406eurusdh1.png

There're bearish patterns, such a "High Wave" and an "Engulfing", which both have been confirmed. Therefore, the market is likely going to test the nearest support level, but bulls will probably try to achieve the Moving Averages afterwards.

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