EUR/USD: bullish 'Hammer' on the lower 'Window'

EUR/USD: bullish 'Hammer' on the lower 'Window'

0301eurusdH4.png

There's a bullish 'Hammer', which has been formed on the lower 'Window', so the price is rising. It's likely that the market is going to test the nearest resistance at 1.1419 soon. If any bearish pattern forms on this level little later on, there'll be a moment for another decline in the direction of the next support at 1.1295.

0301eurusdH1.png

We've got bullish patterns such an 'Engulfing' and a 'Tweezers', which both have been confirmed by the last 'Three Methods' pattern. In this case, we should watch the closest resistance area at 1.1419 as an intraday target. If a pullback from this level forms afterwards, there'll be a green light for a decline.

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