EUR/USD: bullish "Engulfing"

EUR/USD: bullish "Engulfing"

0410eurusdh4-1.png

There's a bullish "Engulfing", which has been confirmed enough. So, the market is likely going to continue moving up towards the nearest resistance area, which could be a departure point for another decline.

0410eurusdh1-1.png

We've got a bullish "Hammer", but confirmation of this pattern is still on the way. Therefore, we could have a local bearish correction during the day. However, if a pullback from the closest support happens little later on, there'll be an opportunity to have an upward price movement in the direction of the last high.

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EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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