EUR/USD reversed from support zone Next buy target - 1…
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.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.