EUR/USD: bearish "Three Methods" pattern

EUR/USD: bearish "Three Methods" pattern

1306eurusdh4-1.png

There's an "Engulfing", which has been confirmed by the last bearish "Three Methods" pattern. So, the market is likely going to decline towards the 55 Moving Average in the short term.

1306eurusdh1-1.png

The 144 Moving Average acted as support, so there's an "Engulfing" pattern, which hasn't been confirmed yet. In this case, bulls are likely going to test the 34 MA during the day. If a pullback from this level happens, bears will have a green light to deliver a new local low.

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Expanding  bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.

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Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.

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