EUR/USD: bearish 'Three Methods' pattern

EUR/USD: bearish 'Three Methods' pattern

1204eurusdH1 (2).png

There's a 'High Wave' pattern, which has been confirmed. So, the market is likely going to test the 144 Moving Average, which could be a departure point for another bullish price movement.

1204eurusdH1 (3).png

We've got a bearish 'Three Methods', so the pair is declining. It's likely that the price is going to continue declining until any bullish pattern forms.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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