EUR/USD: bearish patterns

EUR/USD: bearish patterns


We've got bearish patterns such a "Tower" and a "High Wave", which both have confirmation. Therefore, the pair is likely going to test the 34 Moving Average in the short term.


There's a "High Wave" pattern, which has formed on the 34 Moving Average. Considering confirmation of this pattern, we could have a local correction towards the nearest resistance, which could be a departure point for another decline.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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