EUR/USD: bullish 'Engulfing'

EUR/USD: bullish 'Engulfing'

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The price has fixated under the Moving Averages. At the same time, there's a bullish 'Engulfing', so the market is likely going to test the 89 Moving Average. If a pullback from this line happens next, there'll time for another decline.

0110eurusdh1.png

There're bullish patterns such a 'Hammer', a 'Tower' and an 'Engulfing'. In this case, we should keep an eye on the 34 Moving Average (1.1644) as an intraday target. A pullback from this line could be a starting point for a decline.

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