EUR/USD: bullish "Engulfing"

EUR/USD: bullish "Engulfing"

2508eurusdh4-1.png

The 55 Moving Average has acted as support, so we've got a bullish "Harami" on this line. However, there's also a "Shooting Star" pattern, so the market is likely going to test the nearest support. If a pullback from the 89 MA happens afterwards, there'll be an opportunity to have another upward price movement.

2508eurusdh1-1.png

There's support by the 89 Moving Average. Also, we've got a developing bullish "Engulfing". If this pattern confirms, the pair is likely going to test the nearest resistance level, which could be a departure point for a decline.

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