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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EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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