EUR/USD reversed from support zone Next buy target - 1…
EUR/USD: bullish "Engulfing"
There's a bullish "Engulfing", which has been confirmed. At the same time, we've got a "Three Methods" pattern, so the market is likely going to continue moving up towards the next resistance area.
The last "Three Methods" pattern pushed the price higher, so the price fixated above the "Window". We could have just a local bearish correction in the short term. Nevertheless, bulls will probably try to deliver new highs soon.
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.