There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
EUR/USD: bears going to move on
We've got bearish patterns such a "Shooting Star", a "Three Black Crows" and an "Engulfing", which all have been confirmed enough. So, bears are likely going to continue pushing the price lower, which means we could have a new local low soon.
There's a confirmed bullish "Harami" on the 55 Moving Average. Therefore, the price is likely going to test the nearest resistance level, which could be a departure point for another decline.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.