EUR/USD: bearish patterns

EUR/USD: bearish patterns

2019-11-11 • Updated

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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.

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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.

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