EUR/USD: bullish "Hammer"

EUR/USD: bullish "Hammer"

0408eurusdh4-1.png

The last "Shooting Star" hasn't been confirmed. Also, there isn't any reversal pattern so far, which means the market is likely going to continue moving up. If any bearish pattern forms afterwards, there'll be an opportunity to have a downward correction.

0408eurusdh1-1.png

We've got a bullish "Hammer", which led to the current upward price movement. In this case, the pair is likely going to reach the nearest resistance during the day. If a pullback from this level happens, we should keep an eye on the 55 Moving Average as the next bearish target.

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