EUR/USD: bearish patterns inside strong resistance

EUR/USD: bearish patterns inside strong resistance

EUR/USD: bearish patterns inside strong resistance

There’s a strong resistance area, where we’ve got bearish patterns such a “Tweezers”, a “Shooting Star” and a “Doji”. Therefore, the market is likely going to test the lower “Window”, which could be a departure point for another upward price movement.

EUR/USD: bearish patterns inside strong resistance

The 34 & 55 Moving Averages are acting as a support on the one-hour chart. At the same time, there’re a bearish “Shooting Star” and a “Doji”, but both patterns have a quite weak confirmation. So, the pair is likely going to test the nearest resistance once again. If a pullback from this level be on the table, bears will have a chance to deliver a local decline.

eur

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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