EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: broken "Pennant"
Bears went through support at 1.1772, so we should keep an eye on the next support at 1.1714 - 1.1688 as the next intraday target. If a pullback from this area happens, we could have an upward correction towards the nearest resistance at 1.1772 - 1.1793.
The last "Pennant" pattern has been broken, so the price is declining. The main target is the closest support area at 1.1714 - 1.1688, which could be a departure point for a bullish correction.
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.