EUR/USD: bearish "Three Methods" pattern

EUR/USD: bearish "Three Methods" pattern


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.


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.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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